Om Development Bank trading resumes from today after successful merger with Manaslu Bikas Bank

Om Development Bank Limited (ODBL) has resumed its trading in Nepal Stock Exchange Limited (NEPSE) from today (Shrawan 3, 2074). The trading of the bank was halted due to the merger process with Manaslu Bikas Bank Limited (MSBBL). The trading of the Om Development Bank has resumed after the successful merger with Manaslu Bikas Bank. The bank has commenced joint transaction from Asadh 2, 2074 as Om Development Bank. ODBL had distributed 29% bonus share to its shareholders and the adjusted price of the bank after bonus share is at Rs 487. Now, the trading has already started from Rs 487. The share swap ratio as per the DDA report has been fixed for 100:92 (shareholders having 100 shares of Manaslu will get 92 shares of Om Development Bank). Om Development Bank has paid-up capital of Rs 1.36 arba. It has earned net profit of Rs 26.57 crore in the third quarter of the last fiscal year 20723/74 as per unaudited report. Similarly, Manaslu Bikas Bank has paid-up capital of Rs 30.83 crore. The bank has earned net profit of Rs 4.57 crore in the third quarter of the fiscal year 2073/74 as per unaudited report. After the merger, the paid up capital of the merged entity reached to Rs 1.64 arba. The bank will further issue 10:3 (30%) right share to its shareholders. After adjustment of right share its paid up capital will reach Rs 2.13 arba. As per NRB’s directive for all national level development banks, the bank should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74.