CSI bank to issue public shares

Nepal CSI Development Bank Ltd is issuing 3 million units of public shares worth Rs 300 million by mid-January 2010. The bank has appointed NIDC Capital Markets Ltd issue manager for this purpose.

After the sales of the public shares, the banks paid-up capital would reach Rs 1 billion making it the first development bank to have the largest amount of paid-up capital, states a press release issued by the bank.

A board meeting of the bank has also decided to appoint Bhushan Shamsher Rana and Bhaskar Rimal to the posts of Chief Executive Officer and General Manager of the bank respectively. The bank also stated that it has plan to upgrade itself to Category ´A´ commercial bank in near future.

Source: Republica