RTS for the Promoter Share Transaction of NIMBPO is NIBL Ace Capital

Nepal Stock Exchange has issued a circular in relation to the Nepal Investment Mega Bank Ltd promoter share (NIMBPO) transaction in the secondary market.

Following their merger, the former Nepal Investment Bank Ltd and the former Mega Bank Ltd are now conducting joint transaction in the name of Nepal Investment Mega Bank Ltd (NIMB). The bank now trades on the secondary market under the script symbol NIMB.

Since the promoter shares of the former Nepal Investment Bank are freely tradable as well as freely non-tradable, all member broker companies are currently required to contact the Share Registrar (RTS) of Nepal Investment Bank, i.e. NIBL Ace Capital Ltd, when conducting any transaction in relation to NIMBPO and when selling the promoter shares (NIMBPO) through the secondary market.

Beginning on Poush 27, 2079, Nepal Investment Bank and Mega Bank started integrated transactions. Prior to the companies merging, Nepal Investment Bank had a paid-up capital of Rs. 19.03 Arba. Likewise, 15% paid-up capital of NIBL prior to the merger, i.e Rs. 2.85 Arba or 2.845 Crores unit shares, is the holding of freely tradable promoter shares of Nepal Investment Bank.

Ten years back, Rastriya Banijya Bank decided to auction these shares as per the directive of the Nepal Rastra Bank (NRB), the central monetary authority, that required all banks and financial institutions which had cross holding in other BFIs, to offload such shares.