CIT underwrites shares of SNPL worth Rs 3.03bn

KATHMANDU: Citizen Investment Trust (CIT) on Thursday entered into an agreement with Siuri Nyadi Power Ltd (SNPL) to underwrite its shares. 

The agreement was signed by Parbat Kumar Karki, Executive Director of CIT, and Shailendra Guragain, Chairman of SNPL.

As per the agreement, CIT will underwrite shares of SNPL equivalent to Rs 3.03 billion. Siuri Nyadi Power is issuing 30,360,784 units of shares at a rate of Rs 100 per share. 

In the past, CIT has already underwritten shares of various companies.