Kamana Sewa Bikas Bank trading resumes from today after successful merger with Sewa Bikas Bank; Trading starts from Rs 248

Kamana Sewa Bikas Bank Limited (KSBBL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Bhadra 27, 2074). The trading of the development bank was halted due to the merger process with Sewa Bikas Bank Limited. Kamana Bikas Bank  had issued 30% rights share to its shareholders and the adjusted price of the bank after right share is at Rs 248 . Now, the trading has already started from Rs 248. The development bank had commenced joint operation from Shrawan 20, 2074 as Kamana Sewa Bikas Bank Limited. The share swap ratio of Kamana Bikas Bank and Sewa Bikas Bank was fixed at 1:1. After their merger, the merged entity will have a paid up capital of Rs 2.06 arba. As per NRB’s directive for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, the merged bank will need to issue a further capital hike of around Rs 44 crore (around 21.50%). Kamana has earned net profit of Rs 17.65 crore in the fourth quarter of the FY 2073/74 and in the same period SEWA has earned Rs 17.28 crore.