KATHMANDU: Citizen Investment Trust (CIT) has entered into an agreement with Sanigad Hydro to guarantee its shares.
The agreement was signed by Parbat Kumar Karki, Executive Director of CIT, and Rajesh Kumar Shrestha, Managing Director of Sanigad Hydro.
According to the agreement, CIT will guarantee 8.55 million units of Sanigad's shares, valued at Rs 855 million, at a rate of Rs 100 per share.
Sanigad Hydro is required to complete the share issuance within six months from the date of the agreement. If the shares are not issued within the given period, the agreement will automatically be terminated.