CIT trading resumed from today; CIT opens for trading at Rs 3795/unit

Trading of shares of Citizen Investment Trust (CIT)  has been resumed from today. The opening price of CIT was Rs 3795. The price of shares of CIT had increased by 9.99% in the first twenty minute of the trading. As of now, the price of CIT has fallen in the red zone. The trading of CIT had been halted for more than a year. Mr. Yogesh Shrestha, the then chairman of Nepal Share Market and Finance (NSMF) Limited, had sold his stakes in CIT illegally as he is blacklisted for embezzling funds worth of Rs 1.7 billion. The buyer of shares of CIT owned by Mr.Shrestha was unable to transfer the ownership certificate of the share. The buyer fled a case with the Supreme Court of Nepal. After a verdict from the Supreme Court, the trading of CIT has resumed from today.