Civil Bank Limited IPO Allotment

Civil Bank Ltd has successfully alloted 8 million units of shares worth NPR 800 million to the general public. The Bank had appointed Citizens Investment Trust, NCM Capital Markets, Nabil Investment and Ace Capital Market as the issue managers for its IPO. In an interaction program, the Bank declared allocation of shares to 57,588 subscribers from general public (257 of the Bank’s staff and 2 issue managers) who have been proportionately allocated total shares of 54,019,660 units (400,000 units to Bank’s staff and 600,000 units to issue managers). The issuance of shares was opened from 2069/08/25 to 2069/08/28 to general public. The Bank has allotted 27.09% to small investors and 10.19% to other subscribers. Although the period allowed for the allocation of shares is 40 days, the Bank has acted swiftly for completion of allocation of the shares earlier than the given period. Civil Bank could be the first commercial bank till date in terms of share allocation within such short tenure said Chief Executive Officer of the Bank, Mr. Kishore Maharjan.