CIT underwrites shares of Myagdi Hydropower worth Rs 474.5m

KATHMANDU: Citizen Investment Trust (CIT) on Sunday signed an agreement with Myagdi Hydropower to underwrite its shares.

The agreement was signed by Parbat Kumar Karki, Executive Director of CIT, and Bharat Prasad Nepal, Chairman of Myagdi Hydropower. 

Under the agreement, CIT will underwrite 4,745,000 unit shares of Myagdi hydropower, amounting to Rs 474.5 million. The shares are priced at Rs 100 each.

The agreement is valid for six months from the date of signing.