Century Commercial Bank to auction 9.7% unclaimed 18.29 lakh units right shares at Rs 100 & above

Century Commercial Bank Limited (CCBL) will be auctioning its ordinary and promoter right share to the general public. The commercial bank had floated 10:4 (1,88,54,257 unit) right shares to its shareholders on Shrawan 16, 2074. Only 1,70,24,381 units  right shares were fully subscribed by the shareholders and remaining 18,29,876 units (9.7%) unclaimed right shares will  be sold through auction. As per an official of Civil Capital, issue manager for the Century bank right share,  “the bank will be selling 14,20,701 units promoter share and 4,09,175 units ordinary shares as right shares were not fully subscribed by the shareholders.” The date for the auction shares has not been fixed yet added the official. CCBL’s current paid up capital remains at Rs 5.46 arba. The bank had earned Rs 44.74 crore profit in the fourth quarter of the last fiscal year 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.