Prabhu Bank to resume trading from tomorrow; trading price to start from Rs 363

Prabhu Bank Limited (PRVU) will be resuming its trading from tomorrow (Ashwin 17, 2073). The trading of Prabhu Bank was halted in Nepse since September 30, 2015. It's been almost a year and the trading of shares of Prabhu Bank was in halt though its merger process with Grand bank had completed and joint operation started on February 12, 2016. Murahari Parajuli, Acting Senior officer of Nepal Stock Exchange Limited (NEPSE) said, ‘The trading of Prabhu Bank will resume from tomorrow. The starting trading price of Prabhu Bank will be Rs 363.’ ‘As for now, trading of Prabhu Bank will resume. However, trading of Grand Bank may take some time.’ added Mr. Parajuli. Recently, Prabhu bank has listed its 20% right share in Nepse for trading. Prabhu Bank has earned net profit of Rs 1.14 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 5.88 arba. Before the merger process, Prabhu Bank’s Last Traded Price (LTP) stood at Rs 415 as on September 30, 2015.