Citizens Bank's FPO oversubscribes by more than 5 times till the second day; Applications received for more than 22.88 lakh units

The further public offering of Citizens Bank International has been oversubscribed by more than 5 times on the second day of its issuance.

As per the information provided by the issue manager, more than 23,964 applicants have applied for more than 22.88 lakh unit shares of the commercial bank. 

Citizens Bank International Limited (CZBIL) is issuing 4,63,826 unit shares as FPO to the general public at the rate of Rs.200 per share (Including Rs.100 as premium) from 15^th to 18^th Shrawan, 2075.

Global IME Capital has been assigned as the issue manager for the FPO issuance.

Interested applicants can apply for a minimum of 50 units and maximum of 2,300 unit of shares. Applications can be placed through any of the financial institutions providing C-ASBA facilities.

ICRA Nepal has assigned Grade 3 rating to the FPO issuance indicating Average Fundamentals.