Century Commercial Bank extends 15 days for 1.88 crore units right shares till Ashwin 2

Century Commercial Bank Limited (CCBL) has extended one day for the right share issue of 1.88 crore units till Ashwin 2, 2074. Earlier the closing date has been set on Bhadra 18, 2074. CCBL has issued 10:4 (40%) right share to its shareholders from Shrawan 16, 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 is 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. 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 44.74 crore in the fourth quarter of the FY 2073/74. 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.