First Business News Portal in English from Nepal
KATHMANDU: Nabil Bank is set to acquire United Finance. The bank’s special general meeting held on Saturday passed a resolution to acquire United Finance.
The bank held its general meeting through virtual means while the amid Covid-19 pandemic.
The special general meeting has approved the share price ratio of 100:35 determined on the basis of United Finance’s assets and liabilities valuation report and other related arrangements.
Accordingly, the shareholders of United Finance will receive 35 shares of Nabil Bank equal to 100 shares of United Finance.
After the acquisition of United Finance, Nabil Bank’s paid-up capital will reach Rs 13.84 billion and its total capital will be Rs 32.68 billion. Similarly, the branch network of Nabil Bank will be increased to 147 and the number of ATMs will be 189.
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