Civic Development Bank Ltd. to go public

KATHMANDU, OCT 9: 

Dhading-based Civic Development Bank (CDB) that has got approval from the Nepal Stock Exchange (Nepse) on September 30 to float 1,20,000 units of ordinary shares, 30 per cent from its paid-up capital of Rs 40 million. The development bank having authorised capital of Rs 100 million and issued capital of Rs 40 million has expected participation during its initial public offering (IPO) from all the locals of Dhading, it said. It has been able to increase its deposit base by 83.84 per cent during the last fiscal year compared to the fiscal year 2010-11.

Source: THT