Citizens Bank International to implement ASBA system

Published On: December 28, 2016 10:13 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 28: Citizens Bank International Ltd has received license from Securities Board of Nepal (Sebon) to start Applications Supported by Blocked Amount (ASBA) system under which investor’s money equivalent to the subscription of initial public offering (IPO) or follow-on public offer (FPO) gets blocked until the allotment of the shares.

Issuing a statement, the bank said that it will implement the system from January 14.

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