Century Commercial Bank, Innovative Dev. Bank & Araniko Dev. Bank start joint transaction from today; trading to resume within 15 days
Sun, Jun 11, 2017 5:08 PM on Latest, Featured, Stock Market,
Century Commercial Bank Limited (CCBL) has commenced its joint transaction today after acquisition of Innovative and Araniko Development Bank Limited. The commercial bank had decided to prioritize mergers and acquisitions to increase its paid up capital up to Rs 8 arba as directed by Nepal Rastra Bank (NRB).
NRB Governor, Dr. Chiranjibi Nepal inaugurated the joint transaction amidst a program conducted by Century Bank today at Hotel Annapurna in Kathmandu.
Issuing a press statement today, it stated that, after the joint transaction the bank’s paid up capital has reached Rs 4.71 arba, collected Rs 38.50 arba in deposits and number of branches has increased to 53.
The bank will also be issuing 40% right share to its shareholders and after that it will start joint transaction with other acquired BFIs (Sagarmatha Finance, Seti Finance and Alpine Development Bank ) within Ashad end.
After completion of acquisition process with all BFIs and issuance of right/bonus shares, the bank’s paid up capital will reach Rs 8 arba easily, added the statement.
Trading of Innovative and Araniko to resume as CCBL within 15 days
As per an official of Century Commercial Bank, new shares of CCBL from share swap of Innovative and Araniko Development Bank will be listed within 15 days as per SEBON's new provision. Shareholders having 100 shares of Innovative Dev Bank will be given 85 shares of CCBL while shareholders having 100 shares of Araniko Dev Bank will be given 90 shares of CCBL. The shareholders can trade their shares after receiving in their respective demat accounts.
Issuing a press statement today, it stated that, after the joint transaction the bank’s paid up capital has reached Rs 4.71 arba, collected Rs 38.50 arba in deposits and number of branches has increased to 53.
The bank will also be issuing 40% right share to its shareholders and after that it will start joint transaction with other acquired BFIs (Sagarmatha Finance, Seti Finance and Alpine Development Bank ) within Ashad end.
After completion of acquisition process with all BFIs and issuance of right/bonus shares, the bank’s paid up capital will reach Rs 8 arba easily, added the statement.
Trading of Innovative and Araniko to resume as CCBL within 15 days
As per an official of Century Commercial Bank, new shares of CCBL from share swap of Innovative and Araniko Development Bank will be listed within 15 days as per SEBON's new provision. Shareholders having 100 shares of Innovative Dev Bank will be given 85 shares of CCBL while shareholders having 100 shares of Araniko Dev Bank will be given 90 shares of CCBL. The shareholders can trade their shares after receiving in their respective demat accounts.
