FPO of Citizens Bank oversubscribes by more than 12 times; Applications received for 56.09 lakh units till 12PM of the last day

The further public offering of Citizens Bank International has been oversubscribed by more than 12 times till 12 PM of the last day of its issuance.

As per the information provided by the issue manager, more than 57,273 applicants have applied for more than 56.09 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.

The interested applicants can place their applications through banks till banking hours and through Meroshare till 5 PM today.

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.