Prabhu Bank starts issuing new share certificates; trading expected soon

ShareSansar, November 21:

The newly formed entities-Prabhu Bank Limited has started distributing new share certificates to the shareholders from Mangsir 4, 2071 following the merger of Kist Bank Limted, Prabhu Bikas Bank, Gaurishanker Bikas Bank and Zenith Finance Limited.

The share certificates of all the merged entity can be collected from Prabhu Bank Limited, head office situated at Babarmahal, Kathmandu.

The bank has published a notice stating the different dates starting form Mangsir 4 to Mangsir 26 for the collection of certificate of different merged companies.

The share certificates can be collected from 10:00 AM to 3:00 PM Sunday through Thursday, and from 10:00 AM to 1:30 PM on Friday.

The trading of the then Prabhu Development Bank and Kist Bank were suspended in April last year by the  after they signed MoU for the merger while the trading of the Gaurishankar and Zenith had also halted later after they joined the merger process.

Meanwhile, Prabhu Bank Ltd. is issuing 100:10 ratio rights shares to its shareholders.

Earlier, the swap ratio was finalized at 97.31 for Kist, 107.31 for Prabhu, 107.31 for Gauri Shankar, and 92.31 for Zenith.

If things go as per the plan – and there isn’t much space to doubt it won’t – Prabhu shares will regularly trade around Rs.200-250 if other things remains same, one of the investors Jeevan Shrestha told sharesansar today.