167% right shares of City Express Finance to be issued from Bhadra 01; Paid up capital to reach Rs 40 crore after adjustment

City Express Finance Company Limited (CEFL) is going to issue its 167% right shares to its shareholders from Bhadra 01, 2075 till Ashoj 04, 2075. The finance company is issuing 25,00,000  unit shares for a par value of Rs 100.

Care Ratings had assigned the right issue with Grade 5 rating which implies poor fundamentals.

Kathmandu Capital Market Limited has been assigned as the issue manager for the right share issuance.

The applications can be placed through any of the banks and financial institutions providing C-ASBA facility.

The shareholders register book will remain closed on Shrawan 21, 2075 i.e. the shareholders holding the shares till Shrawan 20 shall be eligible to apply for the right shares.

CEFL’s current paid-up capital stands at Rs 15 crore which will rise to Rs 40 crore after the issuance of 167% right shares.