FPO of Citizens Bank oversubscribed by 1.67 times in the first day; Applications received for more than 7.77 lakh unit shares

The further public offering of Citizens Bank International has been oversubscribed on the first day of its issuance.

As per the information provided by the issue manager, more than 6,673 applicants had applied for more than 7,77,710 unit shares of the commercial bank. Applications have been received amounting to Rs 15,55,42,000.

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.