Citizens Bank Allots FPO; 26.04% Applicants Left Empty-Hand

Aug 10, 2018 Merolagani

Citizens Bank (CZBIL) has allotted its further public offering (FPO) in the office of Global IME Capital, issue manager of the bank on Friday morning.

A total of 46,382 out of 62,782 applicants had been provided a mandatory 10 units of shares through a lottery system. The share recipients were provided with 463,820 units of shares at the rate of 10 per applicants. Meanwhile, 16,327 applicants were left empty-handed and 73 applications were canceled.

Moreover, the remaining 6 units of shares were again distributed to 6 out of 46,382 applicants through the lottery.

The bank issued 462,826 units of FPO at a price of Rs 200 including a face value of Rs 100 and a premium of Rs 100 from July 31-August 3.

The bank issued the FPO in order to maintain its promoter and general shareholders at 51:49. At present, promoter shareholders have 51.29 percent and general shareholders have 48.71 percent share ownership in the bank.

After the FPO issuance, the paid-up capital of the bank will reach Rs 8.07 billion. As per the financial report of the last FY published under NFRC format, the bank earned a net profit of Rs 1.27 billion and has maintained EPS of Rs 15.86. The bank has a dividend capacity of Rs 964.9 million.

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