Trading in shares of Global IME Bank is likely to resume from next week.
NEPSE had suspended the trading in the shares of Global IME Bank and its merging partners Social Development Bank and Gulmi Bikas Bank following the signing of MoU for merger between them.
Social Development Bank never floated IPO in the market. So, there are no public shareholders of this company. Only the promoter of this bank will get 40% shares of the newly formed GLOBAL IME BANK Ltd.
Nepal Rastra Bank gave a seal of approval to the merger process by issuing Letter of Intent on July 8, 2013.
Social Development Bank was the fourth and Gulmi Bikas Bank the fifth entity to get merged with Global IME Bank. Global IME Bank was formed last year following a merger between Global Bank and two finance companies, IME Financial Institution and Lord Buddha Finance.
Global IME signed a MoU with Gulmi Bikas Bank on May 28, 2013 and with Social Development Bank just two weeks before that.
At present, Global has a paid up capital of Rs 2.25 billion and it posted a profit Rs 361 million in the third quarter of the current fiscal year. Gulmi Bikas Bank has a paid up capital of Rs 25 million. Gulmi Bikas Bank has 250,000 unit of ordinary shares listed at NEPSE that were last traded at Rs 141 per unit. Social Development Bank has a paid up capital of Rs 382,650,000 and its 3,826,500 unit shares are listed at NEPSE.
src : sharesansar
NEPSE had suspended the trading in the shares of Global IME Bank and its merging partners Social Development Bank and Gulmi Bikas Bank following the signing of MoU for merger between them.
Social Development Bank never floated IPO in the market. So, there are no public shareholders of this company. Only the promoter of this bank will get 40% shares of the newly formed GLOBAL IME BANK Ltd.
Nepal Rastra Bank gave a seal of approval to the merger process by issuing Letter of Intent on July 8, 2013.
Social Development Bank was the fourth and Gulmi Bikas Bank the fifth entity to get merged with Global IME Bank. Global IME Bank was formed last year following a merger between Global Bank and two finance companies, IME Financial Institution and Lord Buddha Finance.
Global IME signed a MoU with Gulmi Bikas Bank on May 28, 2013 and with Social Development Bank just two weeks before that.
At present, Global has a paid up capital of Rs 2.25 billion and it posted a profit Rs 361 million in the third quarter of the current fiscal year. Gulmi Bikas Bank has a paid up capital of Rs 25 million. Gulmi Bikas Bank has 250,000 unit of ordinary shares listed at NEPSE that were last traded at Rs 141 per unit. Social Development Bank has a paid up capital of Rs 382,650,000 and its 3,826,500 unit shares are listed at NEPSE.
src : sharesansar
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