Citizen Bank to issue 55% right shares to its shareholders

Kathmandu January 5- Citizen bank to issue 10:5.5 units of right shares to its shareholders. It is the step of the bank towards Rs. 8 billion paid up capital as per directive of NRB.

Existing paid up capital of Rs. 3 billion 65.2 million will increase up to Rs. 4 billion 770 million after the issuance of right shares.

Global IME Capital has been appointed as issue manager to issue right shares worth of Rs. 1 billion 710 million. Rajan Singh Bhandari, Chief Executive Officer of the bank and Paras Mani Dhakal Chief Executive Officer of Global capital signed the agreement paper respectively.