Reliable, Shuva Laxmi and NCDB to merge at 112.70, 89 and 94 swap ratio

ShareSansar, January 31:

Nepal Consumer Development Bank Limited (NCDB), Reliable Finance Limited and Shuva Laxmi Finance Limited are going to merge shortly.

NCDB and Reliable Finance have issued a public notice today to announce their special AGMs on February 17 to endorse the merger to form a national level development bank.

According to the notices, a merger committee of all the three BFIs has fixed the swap ratio for the merger at 112.70, 89 and 94 through an interest pooling method for Reliable, Shuva Laxmi and NCDB, respectively.

Following the merger, the merged company’s BoD would comprise of three representatives from Reliable, and one each from NCDB and Shuva Laxmi until the upcoming AGM of the merged company.