Prabhu Bank trading to resume within Jestha

Prabhu Bank Limited (PRVU) trading has been halted in Nepal Stock Exchange Limited (NEPSE) since September 30, 2015. It’s been eight months and the trading of shares of Prabhu Bank is still in halt though its merger process with Grand bank has been completed and joint operation has also started. Amit Bhandari, Company Secretary of Prabhu Bank said, “We are carrying out the process for trading, hopefully the trading will resume within Jestha.” The swap ratio for the merger, which had been fixed in 121.45:65.58 means the shareholders holding 100 units of Prabhu Bank shares will get  21.45 shares in premium, and the shareholders holding 100 units of Grand Bank will get 65.58 shares of PrabhuBank. Prabhu Bank had also issued 10:2 ratio right shares at the face value of Rs 100. PRVU has earned net profit of Rs. 40.56 crore in the second quarter of the fiscal year 2072/73.