Bishwa Bikas and Fewa Finance stock trading halted due to merger

ShareSansar, December 23:

Pokhara based- Bishwa Bikas Bank Limited (BSBL) and Fewa Finance Limited (FFCL) signs an agreement for merger. Due to merger, Nepal Stock Exchange has halted both companies share trading effective from today.

Bishwa Bikash Bank has capital of Rs 36 crore and reserve of Rs 14.52 crore till first quarter of FY 2071/72. The bank has earned Rs 2.20 crore till first quarter. Its CAR stands at 12.77 percent and NPA is 0.25 percent.

Bishwa Bikash Bank has offered 16.5 percent bonus share and 0.87 percent cash dividend (for tax purpose) to its shareholders from the profit it earned in the FY 2070/71.

Similarly, Fewa Finance Limited has capital of Rs 39.63 crore and reserve of Rs 9.73 crore till first quarter of FY 2071/72. The finance has earned Rs 75.40 lakh till first quarter. Its CAR stands at 13.11 percent and NPA is 1.03 percent.

Fewa Finance Limited has offered 20 percent bonus share and 10.5 percent cash dividend to its shareholders from the profit it earned in the FY 2070/71.

Last traded price of Fewa Finance stood at Rs 223 and Bishwa Bikash Bank’s Rs 285 per units as per the trading on December 22, 2014 in the NEPSE.