First merger among microfinance; Womi and Nagarik Laghubitta start the trend
March 10, 2019 | Investopaper
Womi Microfinance has informed Nepal Stock Exchange(NEPSE) about the merger with Nagarik Laghubitta. Nepse has halted the trading of shares of Womi Microfinance.
This is the first merger or acquisition signed between two Class ‘D’ institutions.
As per the second quarter report of FY 2075/76, the paid-up capital of Womi microfinance stands at 10.10 crore. Similarly the reserve and surplus is at 7.55 crore. The deposits amount to Rs. 50.83 crores whereas loans and advances are at Rs. 1.46 arba. The company has reported a net interest income of Rs. 5.82 and the net profit of Rs. 2.62 crores. The nonperforming loan stands at 0.73. Annualized EPS stands at Rs. 51.94 and net worth per share is Rs. 174.73. Womi microfinance was going to issue 100% right shares to the shareholders.
Similarly, Nagarik Laghubitta has paid up capital of Rs. 1.75 crores till the second quarter of F.Y. 2075/76. The reserves stand at negative Rs. 31.55 lakhs. The company lost Rs. 49.64 lakhs till the second quarter
