Wean Nepal Laghubitta Bittiya Sanstha Ltd. Announces Change in Shareholding Structure

Wean Nepal Laghubitta Bittiya Sanstha Ltd., formed through the merger of the erstwhile Nepal Seva Laghubitta Bittiya Sanstha Ltd. and Wean Laghubitta Bittiya Sanstha Ltd., has announced an adjustment in its shareholding structure.

Previously, the shareholding composition of the institution consisted of 70% promoter shares and 30% public shares. As per the recent decision, the promoter shareholding, particularly from the former Nepal Seva Laghubitta Bittiya Sanstha Ltd. side, has been revised. The promoter ownership has now been adjusted by 7.97 percentage points, resulting in a new structure of 62.03% promoter shares and 37.97% public shares in the total paid-up capital of the merged entity.

This change has been made in accordance with Section 11(4) of the Bank and Financial Institution Act, 2073 (2017), along with other prevailing laws and the Unified Directives issued by Nepal Rastra Bank for “D” class microfinance institutions. The institution has also obtained the necessary regulatory approval from the central bank for this modification.