Second largest IPO in offing, Century Bank appoints issue managers

Sharesansar, May 27, 2013

Century Commercial Bank is all set to issue primary shares aimed at general public within this fiscal year. The bank has already appointed Citizen Investment Trust, Nabil Investment, Growmore Merchant, Civil Capital and NCM Merchant as issue managers. The bank is planning to go public with the shares within this fiscal year. The bank will issue 9.2 million shares worth Rs 920 million. It is the highest number of shares issued by any commercial bank in the country after the shares issued by Agricultural Development Bank. The bank which started operation in 2011 has deposits of Rs 10 billion and has dispensed loans amounting to Rs 8.5 billion. The bank has 31 branches across the country.