NRB Provides Green Light for Merger Between Samudayik (SLBSL) and BPW Laghubitta (BPW)
Sun, May 28, 2023 1:00 PM on Latest, Merger/Acquistion,
Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) and BPW Laghubitta Bittiya Sanstha Limited (BPW) have received approval from the Nepal Rastra Bank (NRB) to proceed ahead with merger-related processes.
In a press release issued by BPW Laghubitta, it stated that the central bank had provided approval in-principle to the earlier joint application submitted by both the microfinance companies requesting for merger.
Earlier, the signing of the preliminary Memorandum of Understanding (MOU) for merger and acquisition purposes between SLBSL and BPW Laghubitta has already been penned.
In line with Bank and Financial Institution Act 2073 Article (71) and (72) and Bank and Financial Institution Merger and Acquisition Regulation 2073 (5th Amendment, 2071), the companies has submitted a joint application seeking approval from the central bank on Jestha 03, which has now been approved.
Recently, 300,000 unit IPO shares of BPW Laghubitta Bittiya Sanstha Limited had been listed in NEPSE. This includes the shares held by promoters and the quantity issued to the general public.
On the other hand, SLBSL is a listed company with a paid-up capital of Rs. 13.20 Crores.
