26,64,244 Unit Shares of CYCL Laghubitta Listed in NEPSE After Merger of CYCL and Former AKBSL

26,64,244 unit shares of CYC Laghubitta Bittiya Sanstha Limited has been listed in NEPSE for trading to begin from tomorrow. 

10,82,900 unit additional shares of Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL) has been added to existing symbol CYCL of CYC Laghubitta Bittiya Sanstha Limited after successful of two microfinance companies has been listed in NEPSE today.

In a notice issued by the Nepal Stock Exchange (NEPSE) on Sunday, it stated that additional 10,82,900 unit shares of Rs. 100 face value each has been listed in the secondary market after the merger of CYC Laghubitta Bittiya Sanstha Limited (CYCL) and Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL).

Earlier, according to the special resolution passed by the special general meeting held separately on Ashwin 7, 2079, the merger had also been approved by Nepal Rastra Bank on Poush 7, 2079.

CYC Laghubitta Bittiya Sanstha (CYCL) and Adhikhola Laghubitta had decided to go on a merger with each other with a swap ratio of 100:70.

Following the development, the halt on share trading for the purpose of joint transaction since Falgun 30 in NEPSE has been lifted.

The paid-up capital of CYCL was Rs. 15.81 Crores. Meanwhile, the paid-up capital of AKBSL was Rs. 15.47 Crores. The total paid-up capital of the newly merged company will be Rs. 26.64 Crores.

The last recorded LTP of CYCL was AKBSL was Rs. 919 and Rs. 1,345, respectively before trading was halted on Falgun 30. 

The Open Price Range is set as Rs 1171.85 for the First Transactions.