CYC Nepal Laghubitta (CYCL) To Merge With Adhikhola Laghubitta (AKBSL) | Special AGM On Ashwin 7

September 22, 2022 | Investopaper

CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) is going to undergo merger with Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL).

Both the microfinance companies have called their respective Special General Meeting (SGM) on Ashwin 7, 2079 BS (September 23, 2022). The SGM will endorse the merger and share swap ratio.

Earlier, these two microfinance companies signed MOU agreement for merger on Ashad 22, 2079 BS.

After the merger agreement, the trading of shares of CYC Nepal Laghubitta (CYCL) and Adhikhola Laghubitta (AKBSL) was suspended in Nepse from Ashad 23, 2079 BS.

The last trading of CYCL is Rs. 1,698.2 and AKBSL is Rs. 1,370 [As of Ashad 22, 207BS].

As of Ashad’s end 2079 BS, CYC Nepal Laghubitta has a paid-up capital of Rs. 12.16 crores. Likewise, Adhikhola Laghubitta has a capital of Rs. 11.90 crores.

About CYC Nepal Laghubitta Bittiya Sanstha Limited

CYC Nepal Laghubitta Bittiya Sanstha Limited registered on 11 February 2019 as a ‘D’ class financial institution licensed by Nepal Rastra Bank. It started formal microfinance operation from 15 March, 2019. The head office is located at Baglung Municipality-3 Baglung. It currently operates in Baglung, Gulmi, Arghakhachi, Tanahun, Palpa, Lamjung, Myagdi, and Parbat.

About Adhikhola Laghubitta Bittiya Sanstha Limited

Adhikhola Laghubitta Bittiya Sanstha Limited is a ‘D’ class financial institution licensed by Nepal Rastra Bank. It was established on 26 August, 2016 [Bhadra 10, 2073 BS]. It commenced formal microfinance operation from 25 January, 2017 [Magh 12, 2073 BS]. It has an operating permission in ten districts. The head office is located at Bhirkot-1, Syangja.


Suggested Reading:

Merger/Acquisition Of Microfinance Companies In Nepal

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