Naya Sarathi Laghubitta Successfully Merges With Vijaya Laghubitta | Joint Operation Begins From Today
July 16, 2023 | Investopaper
Naya Sarathi Laghubitta Bittiya Santha Limited (NSLB) has successfully merged with Vijaya Laghubitta Bittiya Santha Limited (VLBS). After the merger, the joint operation has commenced in the name of ‘Vijaya Laghubitta Bittiya Santha Limited’ from Ashad 31, 2080 BS.
Nepal Rastra bank provided final approval for merger on Ashad 15, 2080 BS.
Similarly, the final agreement for merger was inked between the two microfinance companies on Baisakh 30, 2080 BS [May 13, 2023].
The merger took place at share swap ratio of 1:1. This means, that every 100 shares of these two companies will convert into the 100 shares of the new company formed after the merger.
Earlier, the two companies had signed a preliminary agreement for a merger/acquisition (MOU) with Vijaya Laghubitta Bittiya Sanstha Limited (VLBS). The agreement was inked on Mangsir 26, 2079 BS [December 12, 2022].
After the merger agreement, Nepal Stock Exchange (NEPSE) has suspended the trading of shares of principal shareholders.
Previously, Naya Nepal Laghubitta and Sarathi Laghubitta had successfully merged to form ‘Naya Sarathi Laghubitta Bittiya Santha Limited’ and began joint operation from Ashoj 5, 2077 BS.
As of Chaitra’s end 2079 BS, Naya Sarathi Laghubitta has a paid-up capital of Rs. 36.10 crores while Vijaya Laghubitta has a paid-up capital of Rs. 38.40 crores.
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