Century Commercial Bank right issue (4:1) likely to float after Dashain

Century Commercial Bank Limited (CCBL) 4^thAGM held on Falgun 28, 2071 had endorsed 4:1 (25%) right shares to their shareholders. Jeevan Bhattarai, company secretary and Deputy CEO of the Century Commercial Bank said, “ The notice regarding application for the right issue of 4:1 will be published within a week. ” The shareholders of CCBL will be able to apply for the 4:1 right issue after Dashain festival. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue. The paid up capital of the bank stands at 2.12 arba. After the issuance of 25 percent, the paid up capital will stand at Rs 2.65 arba. CCBL had earned net profit of Rs 25.79 crore in the fourth quarter of the last fiscal year 2071/72.