Citizen Investment Trust (CIT) To Close 82.84 Percent Right Share On Magh 19

February 1, 2021 | Investopaper

Citizen Investment Trust (CIT), popularly known as Nagarik Lagani Kosh,  is going to close the right share to the shareholders from today (Magh 19, 2077 BS). The company is currently issuing right share in the ratio 1:0.8284. This means shareholders with 100 shares can apply for 82.84 right shares at a par value of Rs 100. The right issue was open from Poush 29, 2077 BS. The shareholders can submit the application until Magh 19, 2077 BS.

Securities Board Of Nepal (SEBON) had approved the issuance of the right share on Poush 2, 2077 BS. The company has submitted the application to SEBON for the right issue on Bhadra 22, 2077.

The company is floating 1,35,92,59,200 unit right shares. At a face value of Rs 100, the right issue amounts to Rs 1.36 Arba.

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For the right issue, it has appointed RBB Merchant Banking Limited as the issue manager. Mr. Raman Nepal, Executive director of CIT, and Mr. Badri Prasad Pyakurel, CEO of RBB Merchant Banking signed the agreement for the right offering.

Citizen Investment Trust, at current, has a paid-up capital of Rs 1.64 Arba. The company earned Rs 54.26 crores in the fiscal year 2076/77. After the adjustment of the bonus share from the fiscal year, 2075/76 and this right share, the capital of the company will rise to Rs 3.36 Arba.

The 25th Annual General Meeting of CIT had already approved the 82.84 percent right issue. The AGM also endorsed a 22 percent bonus share to the shareholders.

Book Closure Date

For the purpose of the right offering, the company has announced the book closure date on Poush 14, 2077 BS. Hence, the investors purchasing/holding the shares until Poush 13 can buy the right shares.

Suggested Readings:

Upcoming Right Share/Issue In Nepal

Citizen Investment Trust (CIT) Earns Profit Of Rs 54.26 Crores In FY 2076/77

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