Civic Development Bank floats its 4:1 right shares

ShareSansar, August 12:

Civic Development Bank Limited has floated its 4:1 right shares at a face value of Rs 100 per unit from today.

The right issue will close on September 15.

Growmore Merchant Banker Limited, which is managing Civic’s issue, has already announced the book closure for the right issue from July 21.

The fourth Annual General Meeting of the development bank held back on December 6, 2013 had endorsed the right issue to raise the paid-up capital, besides pledging 9 percent cash dividend to the shareholders from the profit for the fiscal year 2069/70.