CIT underwrites shares of Palpa Cement Industries worth Rs 750m

KATHMANDU: Citizen Investment Trust (CIT) has entered into an agreement with Palpa Cement Industries to underwrite its shares.

The agreement was signed by Parbat Kumar Karki, Executive Director of CIT, and Vishnu Kumar Agrawal, Chief Executive Officer of Palpa Cement Industries.

Under the terms of the agreement, CIT will underwrite shares of Palpa Cement Industries amounting to Rs 750 million. The shares have been priced at a rate of Rs 100 per share.

The signing ceremony was attended by CIT's Acting Deputy Executive Directors, Shova Shrestha Subedi and Hemanta Pokhrel, as well as other department heads and senior managers of Palpa Cement Industries.

CIT has underwritten shares of various other companies in the past.