Kumari Bank & Kamana Bikas Bank trading resumes from today; Kumari & Kamana trading starts from Rs 347 & Rs 269 respectively

Kumari Bank Limited (KBL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Ashwin 13, 2073) The trading has resumed after the cancellation of merger process with NCC Bank Limited, (NCCB) Infrastructure Development Bank Ltd (IDBL), International Development Bank Ltd (INDBL), Apex Development Bank Ltd (APEX) and Supreme Development Bank Ltd (SUPRME) The merger of Kumari Bank was called off on July 15, 2016 and the trading was in halt thereafter. Earlier, the trading of the bank was halted due to the merger process .NCC Bank Limited (NCCB) and four other development banks went into merger on January 13, 2016 Kumari Bank had distributed 11% bonus share to its shareholders and the adjusted price of the bank after bonus share is at Rs 347. Now, the trading will start from Rs 347. Recently, Kumari Bank had proposes to issue 50% right share to its shareholders. The decision is subjected to approval from the bank’s upcoming Special General Meeting (SGM) and its concerned authorities. Kumari Bank has earned net profit of Rs 74.01 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 2.69 arba. After issuance of 50% right share the paid up capital will rise to Rs 4.03 arba. Before the merger process, Kumari Bank’s Last Traded Price (LTP) stood at Rs 385 as on January 13, 2015. Also, Kamana Bikas Bank Limited (KMBL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today. The trading of the bank was halted due to the merger process with Kaski Finance Limited. The trading of the Kamana Bikas Bank has resumed after the successful merger with Kaski Finance. The bank had commenced joint operation from Ashad 6, 2073 as Kamana Bikas Bank Limited. Kamana Bikas Bank had distributed 22.6% bonus share to its shareholders and the adjusted price of the bank after bonus share is at Rs 269. Now, the trading will start from Rs 269. The share swap ratio of Kamana: Kaski for the merger was fixed at 100:96.35. The paid up capital of Kamana Bikas Bank stands at Rs 66.16 crore as per unaudited report. It had earned net profit of Rs 17.11 crore in the fourth quarter of the fiscal year 2072/73. Before the merger process, Kamana Bikas Bank Last Traded Price (LTP) stood at Rs 330 as on August 2, 2015.