Womi Laghubitta Merges With Suryodaya Laghubitta | Joint Operation From Chaitra 19
April 3, 2022 | Investopaper
Womi Laghubitta Bittiya Sanstha Limited (WOMI) has successfully completed merger with Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS). Both the companies have commenced joint operation from Chaitra 19, 2078 BS. After the merger, the new institution will operate in the name of ‘Suryodaya Womi Laghubitta Bittiya Sanstha Limited.’
Nepal Rastra Bank provided the consent to both the companies for the merger on Falgun 5, 2078 BS.
The merger has been finalized is the share swap ratio of 1:1.
Womi Laghubitta and Suryodaya Laghubitta had signed the final agreement for merger on January 13, 2022 [Poush 29, 2078 BS]. The companies had signed an initial memorandum of understanding (MOU) for merger on August 31, 2021 [Bhadra 15, 2078 BS].
Due to the merger agreement, the trading of shares of both microfinance companies had remained halted in Nepse. Womi Laghubitta last traded at Rs 1609 while the share price of Suryodaya Laghubitta stood at Rs 1713.
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About Womi Laghubitta Bittiya Sanstha Limited
Womi Laghubitta Bittiya Sanstha Limited is a national level ‘D’ class microfinance company licensed by Nepal Rastra Bank on Falgun 19, 2068 BS. The head office is located at Banepa, Kavrepalanchowk. The company started its micro-finance operation from Falgun 25, 2068 BS.
As of Ashad’s end 2078 BS, Womi Laghubitta has a paid-up capital of Rs 41.19 crores. It has floated Rs 4.54 Arba as loans and advances. The microfinance generated a net profit of Rs 16.05 crores in the fiscal year 2077/78 [Based on unaudited Q4 Report, FY 2077/78].
About Suryodaya Laghubitta Bittiya Sanstha Limited
Suryodaya Laghubitta Bittiya Sanstha Limited is a national level ‘D’ class microfinance company licensed by Nepal Rastra Bank on Ashad 6, 2078 BS [June 20, 2013]. It started formal microfinance operation from Shrawan 1, 2070 BS (July 16, 2013). The head office is located at Putalibazar Municipality, Syangja.
As of Ashad’s end 2078 BS, Suryodaya Laghubitta has a paid-up capital of Rs 24.80 crores. It has floated Rs 3.62 Arba as loans and advances. The microfinance generated a net profit of Rs 10.56 crores in the fiscal year 2077/78 [Based on unaudited Q4 Report, FY 2077/78].
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