Nerude Laghubitta & Mirmire Laghubitta Signs Final Merger Agreement; Swap Ratio Not Yet Determined

Sun, Apr 2, 2023 11:47 AM on Latest, NEPSE News, Merger/Acquistion,

The final merger agreement between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has been completed and approved, according to the official notice of Nepal Stock Exchange (MEPSE).

The companies had signed a Memorandum of Understanding (MoU) for merger, Poush 11, where the chairman of both organizations signed a memorandum of understanding for merger.

The current paid-up capital of NLBBL is Rs. 73.20 Crores whereas the same of MMFDB is Rs. 65.33 Crores as of the second quarter report of Fiscal Year 2079/80. Likewise, after the joint integration transactions, the total piad-up capital of the company will be Rs. 1.38 Arba.

As of writing, the last trading price of the NLBBL and MMFDB is Rs. 599 and Rs. 619.90, respectively.

Although the companies signed a merger agreement, the swap ratio and the final name of the combined company have not yet been determined.