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Century Commercial Bank to float 1.88 crore units (40%) right share from Shrawan 16; offer ends Bhadra 18

- ShareSansar, July 14, 2017  on Dividend, Right & Bonus , Featured , Latest , Stock Market
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Century Commercial Bank Limited (CCBL) will be issuing 10:4 (40%) right share to its shareholders from Shrawan 16, 2074.

As per the notice published by the company today,the rights issue will remain open for 35 days before closing on Bhadra 18, 2074.

The book closure date for the rights issue was set on Asadh 27, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Asadh 26, 2074 are eligible to apply for the right shares.

The bank will be issuing 1,88,54,257 units  worth Rs 1.88 arba right share to the shareholders of CCBL and previous shareholders of Innovative and Araniko Development Bank. However, shareholders of Sagarmatha Finance are not eligible for the right shares.

Civil Capital Market Limited is the issue manager for this right issue.

CCBL’s current paid up capital remains at Rs 4.71 arba. After issuance of this 40% right share, its paid up capital will reach Rs 6.59 arba. It has authorized capital of Rs 8 arba.

Interested applicants can collect application forms from Civil Capital Market Limited, CTC Mall, Kathmandu and from designated branches of Century Commercial Bank Limited.

CCBL has earned net profit of Rs 31.09 crore in the third quarter of FY 2073/74.

Century Commercial bank  is going to start its joint transaction after aquisition of Sagarmatha Finance Limited. In addition, Century Commercial Bank is in process of final agreement for the acquisition of Alpine Development Bank and Seti Finance. After acquisition, Rs 50 crore more capital will be added from these two BFIs.

Century Commercial Bank will easily fulfill the paid up capital up to Rs 8 arba as directed by NRB from the profit it earned in the current fiscal year. The number of branches of the bank will reach 90 after completion of all acquisitions.

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