Citizens Bank International to increase its paid up capital by issuing bonus and right share; no plans for merger
Tue, Sep 29, 2015 6:00 PM on Latest, Exclusive, Dividend, Bonus & Rights, Featured, Stock Market,
At present Citizens Bank International Limited ( CZBIL ) has a paid up capital of Rs 2.55 arba. In order to raise their paid up capital to 8 arba by the end of fiscal year 2074, the bank has following plans:
- From the profit of fiscal year 2071/72 the bank will be issuing 21.05 % bonus share to increase their paid up capital to 3.6 arba.
- In the third quarter of fiscal year 2072/73 the bank will be issuing right shares in the ratio 5:2 after which the bank’s paid up capital will reach to Rs 4.29 arba.
- From the profit of fiscal year 2072/73, the bank will be issuing 16.01% bonus share from profit after which the paid up capital of the bank will stand at Rs 4.94 arba.
- In the third quarter of the fiscal year 2073/74, the bank will issue right shares in the ratio 2:1 after which its paid up will hike to Rs 7.34 arba.
- From the profit of fiscal year 2073/74 the bank will issue 9.53 % bonus share, which will be included in paid up capital after which the bank will have a paid up capital of Rs 8 arba.
