Shareholders can apply for CCBL 25% right shares from Kartik 10; Paid up will reach 2.65 arba

Applications for Century Commercial Bank Limited (CCBL) 4:1 (25%) ratio right shares will be opened from Kartik 10. According to the notice published by the bank today, the rights issue will remain open for 35 days before closing on Mangsir 14, 2072. The 4^thAGM held on Falgun 28, 2071, had approved to issue 4:1 ratio right shares.The right issue will last till Mangsir 14, 2072.The bank is floating 53, 00,000 units of right shares for its existing shareholders. The bank had set Ashwin 20 as the book closure date for the rights issue. Only those shareholders who own the shares of the bank by Ashwin 19 will be entitled to get the right share to be offered by the bank. The issue manager of this right share is Civil Capital Markets limited. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 2 arba 65 crore from the existing Rs 2 arba 12 crore. The bank has an authorized capital of Rs 5 arba. Interested shareholders can collect the application forms from the any branch of Century Commercial Bank as well as from the Civil Capital Markets Limited located at Kamladi, Kathmandu. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue. CCBL had earned net profit of Rs 25.79 crore in the fourth quarter of the last fiscal year 2071/72.