SEBON approves 40% right share of Century Commercial Bank; shareholders of Innovative & Araniko Dev Bank also eligible

Securities Board of Nepal (SEBON) has given final nod to Century Commercial Bank Limited (CCBL) for issuing 40% right share. CCBL will be floating a total of 18,854,257 units right shares to its shareholders at a face value of Rs 100 per share. The register of their shareholders will close tomorrow i.e. Asadh 27, 2074. Only those shareholders holding shares one trading day ahead of the book closure date i.e. until today (Asadh 26, 2074) are eligible to apply for the right shares. Civil Capital Market Limited is the issue manager for this right share. Century Commercial Bank’s paid up capital after recent acquisition of Innovative Development Bank and Araniko Development Bank stands at Rs 4.71 arba. The bank is in process to acquire Sagarmatha Finance, Seti Finance and Alpine Development Bank. Shareholders of Innovative and Araniko Development Bank are also eligible for the right shares. After the issuance of 40% right shares, its paid up capital will reach Rs 6.60 arba.