Global IME share trading to resume from tomorrow

ShareSansar, April 29:

Global IME Bank Limited share trading will resume from tomorrow following its merger with Commerz and Trust Bank Nepal Limited.

“Since they have applied with all the documents required for the relisting of the scrip for resumption of share trading today, the trading will start from tomorrow,” NEPSE spokesperson Niranjan Phuyal told ShareSansar today.

According to the market experts, Global IME’s scrip expected to trade at circuit level for the first two to three days.

Global IME’s shares will debut at Rs 430 as per the last traded price on November 10, and would most probably close at Rs 473 on the very first day— rising by 10 percent.

“The scrip is expected to trade at the third circuit level for three days in a row, and will continue to rise steadily till it is priced close to the share of NIC Asia,” said Narendra Sijapati, president of the Brokers’ Association.

Global IME’s share price will hover around Rs 700 within a few days once it gets listed.

It may also be noted that the shareholders are further encouraged by the first three quarterly reports of Global IME for the current fiscal year.

The merger of the two commercial bank which was endorsed by both the banks’ Annual General Meeting in March makes Global IME one of the leading banks with the largest network of branches and ATMs in the private sector.

Global IME started the integrated business from April 9.

Civil Bank share trading likely next week

Though Civil Bank, which has recently merged with two BFIs, had planned to apply for the re-listing of its bourse at NEPSE last week itself, the process has been delayed due to some technical problem related to sequencing of the serial numbers of the scrip of the merged entity.

“We are planning to sort it out as soon as possible,” said a highly placed source at the bank. “It will be listed for trading early next week – if not tomorrow.”

Tomorrow is the last trading day for the week since NEPSE will remain closed on
Trading of the scrip of Civil Bank Limited, which merged with Civil Merchant Bittiya Sanstha and Axis Development Bank Limited in March through special AGM, will open at Rs 138, which was its price when it was last traded on October 7 last year.

“The scrip is expected to trade at the double circuit level for a couple of days, and would eventually settle below Janata Bank,” Sijapati estimates. Janata’s scrip hover around Rs 270 as of now.

Civil Bank had started the integrated business of the merged entity from April 14.