Citizens Bank 55% Right Share offer ends today; Last day for shareholders

Existing shareholders have one more day to file for 10:5.5 (55%) ratio right shares of Citizens Bank International Limited (CZBIL). The commercial bank has been issuing right shares from Ashad 5, 2073 and today is the closing day for the same. Citizens Bank is issuing a total 1, 68, 58, 786 unit right shares at the face value of Rs 100. Global IME Capital Limited is the issue manager for the right issue Interested shareholders can collect the application forms from Global IME Capital Limited, Rastriya Naachghar, Jamal, Kathmandu and from central and all branch offices of Citizens Bank International Limited. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 4.75 arba from current Rs 3.06 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 51.29:48.79 ratio. CZBIL had earned a net profit of Rs. 72.80 crore in the third quarter of the current fiscal year. ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating below-average fundamentals to the proposed rights issue . Its last traded price stood (LTP) at Rs 736  as on July 21, 2016.