Citizens Bank to acquire Sahayogi Bikas Bank; Trading of Sahayogi Bikas Bank put on halt from today

Mon, Jul 8, 2019 2:21 PM on Auction, Latest, NEPSE News,

The trading of Sahayogi Bikas Bank (SBBLJ) is being on halt from today (23rd Ashadh 2076).

According to NEPSE, trading is on halt because of the acquisition agreement between Citizen Bank (CZBIL) and SBBLJ. CZBIL will acquire SBBLJ.

The preliminary SWAP ratio stands at 1:0.9 which means SBBLJ shareholders will be getting Rs 90 per share after the acquisition. However, the ratio may differ based on Due Diligence Report (DDA).

After the acquisition, the deposits will reach Rs 75.68 arba and the loan and advances will reach Rs 68.48 arba. The paid up capital CZBIL stands at Rs 8.37 arba and that of SBBLJ stands at Rs 50.96 crore.