Joint Transaction of Prabhu Bank Limited Starts from Today; How Much is the Revamped Paid-Up Capital?

After a successful acquisition of Century Commercial Bank Limited (CCBL) by Prabhu Bank Limited (PRVU), the joint transaction of Prabhu Bank starts today i.e Poush 26, 2079 (10th January 2023).

The commercial banks received the final approval for the acquisition from Nepal Rastra Bank on Poush 19. Both banks signed MoU for acquisition on Shrawan 15, 2079. Since Century Commercial Bank is being acquired by Prabhu Bank the Due Diligence Audit has endorsed a share swap ratio of 100: 100 for the acquisition.

The paid-up capital of CCBL is Rs. 10 Arba whereas the paid-up capital of PRVU is Rs. 13.53 Arba according to the first quarter report of Fiscal Year 2079/80. Hence, after integrated business, the total paid-up capital of Prabhu Bank Limited will be Rs. 23.53 Arba.

Likewise, for the purpose of matching the shares of the target institution, re-registration of securities, dematerialization, and listing of securities, the share trading of "Prabhu Bank Limited" is halted for 15 days starting today.

As of writing, PRVU has an LTP of Rs. 208.