WOMI Microfinance merges with Nagarik Laghubitta Sanstha; trading of WOMI to be put on halt

Sun, Mar 10, 2019 2:01 PM on Latest, NEPSE News,

Womi Laghubitta Bittiya Sanstha Limited (WOMI) has requested Nepal Stock Exchange Limited to put a halt on trading of the company’s share due to the merger and acquisition MoU signed between Womi Laghubitta Bittiya Sanstha Limited and Nagarik Laghubitta Bittiya Sanstha Limited on Falgun 24, 2075. Nepal Stock Exchange Limited (NEPSE) has put the halt on trading of both the company’s share from today (Falgun 26, 2075).  

At present, the paid up capital of (WOMI) is Rs 10.10 crore. Recently the company had endorsed to float 100% right share issue of Rs 10.10 crore worth from its SGM held on 6th Fagun, 2075. The net profit of the company stands Rs 2.62 crore in the second quarter of fiscal year 2075/76. It’s annualized Earning per Share (EPS) and net worth per share stands at Rs 51.94 at Rs 174.73 respectively.

According to the 2nd quarterly report, Nagarik Laghubitta bittiya Sanstha (NAGARIK) has paid up capital worth Rs. 1.75 crore. The company has negative reserves worth Rs. 31.56 Lakhs. The Company has suffered a net loss of Rs. 49.64 Lakh.

After the completion of merger process, the combined paid up capital of the merged entity will be Rs 11.85 crore. This is the first time that any listed Microfinance company is going to merge with unlisted microfinance company.

The LTP of WOMI in NEPSE stands Rs 1128 per share.

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