July 9, 2023 | Investopaper
Asha Laghubitta Bittiya Santha Limited (ALBSL) is going to acquire Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB). For this purpose, Nepal Rastra Bank has given the final approval on Ashad 22, 2080 BS. Previously, the central bank had provided the Letter Of Intent (LOI) for the acquisition on Jestha 23, 2080 BS.
Ealier, the preliminary agreement for the acquisition (MOU) between two companies was signed on Chaitra 29, 2079 BS [April 12, 2023]. The chairman of both microfinance companies signed the agreement for merger/acquisition.
As of Chaitra’s end 2079 BS, Asha Laghubitta has a paid-up capital of Rs. 38.16 crores while Rastra Utthan Laghubitta has a paid-up capital of Rs. 26 crores.
After the merger agreement, the trading of shares of basic shareholders has remained halted in Nepal Stock Exchange.