Citizens Bank International floating 4,63,826 unit FPO shares

Citizens Bank International (CZBIL) is issuing 4,63,826 units shares as part of its Further Public offering (FPO). After the issuance, the promoter public ownership ratio will be 51:49. The FPO is yet subject to approval from SEBON, so the price hasn’t been fixed yet. Also because the market price is volatile this time, no speculations can be made. Currently, the bank’s ownership structure is 51.29:48.71. The underwriter for the issue is Civil Capital Market Limited. The issue manager for the FPO is Global IME Capital. After the issuance, the bank’s paid up capital will be increased by Rs. 4 crore 63 lakh.