Himalayan Bank After Successful Acquisition Commencing Joint Operation From Falgun 12

After a successful acquisition, Himalayan Bank Limited (HBL) and Civil Bank Limited (CBL) will commence their joint operation from Falgun 12, 2079. The joint operation will be carried out under the name "Himalayan Bank Limited".

Both banks signed MoU for acquisition on Ashad 29, 2079. Since Civil Bank is being acquired by Himalayan Bank the Due Diligence Audit has endorsed a share swap ratio of 100: 80.28 for acquisition. For instance, if a shareholder in Civil Bank owned 100 shares, his share in the combined company would be reduced to 80.28 shares.

As of now, the paid-up capital of CBL is Rs. 9.07 Arba whereas the paid-up capital of HBL is Rs. 14 Arba. Also, HBL and CBL endorsed dividends of 19.11% and 5.26% respectively for the Fiscal Year 2078/79.

The share trading of "Civil Bank Limited" might get halted for 15 days from the date of commencement of integrated financial transactions, as per the guidelines for amalgamation and acquisition of companies that have registered securities issued by the Securities Board (SEBON) for the purpose of matching the shares of the target institution, re-registration of securities, dematerialization, and listing of securities.

As of writing, HBL and CBL have an LTP of Rs. 291 and Rs. 218.90 respectively.