SEBON Gives Pre-Approval For Acquisition of Rastra Utthan Laghubitta by Asha Laghubitta

The Securities Board of Nepal (SEBON) has preliminarily approved the acquisition of Rastra Utthan Laghubitta (RULB) by Asha Laghubitta Bittiya Sanstha Limited (ALBSL).

As per the notice published in NEPSE today, SEBON has given preliminary approval regarding the acquisition of Rastra Utthan Laghubitta by Asha Laghubitta.

The microfinance companies signed the initial Memorandum of Understanding (MOU) for acquisition on Chaitra 29, 2079 and a letter was submitted to the regulatory body on Chaitra 30 for approval. Accordingly, it had been agreed that Rastra Utthan Laghubitta will be acquired by Asha Laghubitta in the swap ratio of 1:1.

The current paid-up capital of RULB and ALBSL is Rs. 26 Crores and Rs. 38.16 Crores, respectively. Thus the paid-up capital will reach to Rs. 64.16 Crores after the acquisition.