Nepal Finance Limited to Acquire Lalitpur Finance in 1: 1 Share Swap Ratio

Lalitpur Finance Limited has called its SGM on 28th Jestha, 2078. The meeting will be held in the company's corporate office in Lagankhel, Lalitpur, starting at 11 am that day. The SGM will be streamed virtually for investors. Nepal Finance Limited has also called its SGM on the same date and time. 

Both the SGM's primary agenda is related to the acquisition of Lalitpur Finance by Nepal Finance Limited. The Due Diligence Audit has signalled a share swap ratio of 1: 1.

The 332nd meeting of the board of directors of Nepal Finance Limited held on Poush 22 approved the decision to acquire Lalitpur Finance Limited. The chairman of both the companies then signed the Memorandum of Understanding (MoU) on Poush 23 in the presence of high-level authorities from both institutions.

As of writing, Nepal Finance Limited has an LTP of Rs. 409 in NEPSE. Meanwhile, the trading of Lalitpur Finance Limited is halted. Interestingly, Lalitpur Finance was in the acquisition process to Prime Commercial Bank Limited (PCBL). As per the decision of the 386th BOD meeting of Lalitpur Finance held on 24th Jestha, 2076, the finance company had agreed to be acquired by Prime Commercial Bank Limited (PCBL).

Meanwhile, Nepal Finance has declared its book closure on Jestha 19. Thus, investors maintained before that day can attend the company's SGM. 

Lalitpur Finance's SGM notice

Nepal Finance's SGM notice