Tag: Nerude

  • NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension

    NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension


    The final steps for the merger between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) have recently been concluded. In accordance with Section 9 (3) of the Merger and Acquisition Directive 2079 Act, the Nepal Stock Exchange (NEPSE) has issued a circular, officially suspending share transactions of the company as outlined in Section 9 (3) of the Directory 2079.

    The merger agreement between NLBBL and MMFDB, sealed at a swap ratio of 1:1, has determined the formation of a new entity named “Nerude Mirmire Laghubitta Bittiya Sanstha Limited.” This new company is slated to commence joint operations on Falgun 30, marking the beginning of a consolidated business approach.

    Currently, NLBBL holds a paid-up capital of Rs. 73.20 Crores, while MMFDB’s paid-up capital stands at Rs. 66.57 Crores. The merger signifies a strategic combination of financial strengths and resources from both entities, aiming to enhance their overall market position and operational capabilities.

    In the current scenario, NLBBL and MMFDB are valued at Rs. 595.00 and Rs. 580.00, respectively, based on their Last Traded Prices (LTP). This reflects the market’s anticipation and response to the forthcoming merger, showcasing potential implications for the stock values of the involved entities.

  • NEPSE Ends Suspension on Muktinath Bikas Bank Securities Trading Following Dividend Disclosure Delay

    NEPSE Ends Suspension on Muktinath Bikas Bank Securities Trading Following Dividend Disclosure Delay


    NEPSE, the Nepal Stock Exchange Limited, has decided to end the suspension on the trading of securities for Muktinath Bikas Bank Limited (MNBBL). This follows a temporary pause resulting from MNBBL’s delayed submission of information related to the dividend declaration for the fiscal year 2079/80.

    In an official statement, NEPSE disclosed that MNBBL failed to provide timely details about the dividend declaration, a requirement stipulated by the Securities Listing Regulations, 2075. These regulations mandate that companies communicate notices, information, and decisions affecting securities prices to NEPSE on or before the day of business commencement.

    The decision regarding the dividend declaration for the fiscal year 2079/80 was made during MNBBL’s board meeting on the 5th of Poush. However, the information about this decision reached NEPSE a day later, on the 6th of Poush, leading to an immediate suspension of MNBBL securities trading. NEPSE sought clarification from MNBBL within a three-day timeframe.

    MNBBL responded to NEPSE’s inquiry, explaining that the delay was unintentional and was a result of coincidental timing. They clarified that the discussion on the dividend took place during the meeting at 4:30 P.M. on the 5th of Poush.

    Despite MNBBL’s clarification, NEPSE, in a decision dated 2080/09/11, issued a warning to MNBBL and directed the resumption of the suspended securities transactions. The warning underscores MNBBL’s obligation to fully comply with the Securities Listing Regulations, 2075, and its associated terms.

  • NLBBL Initiates Auction of Promoter Shares to Existing Shareholders with Minimum Bid Rate of Rs. 350

    NLBBL Initiates Auction of Promoter Shares to Existing Shareholders with Minimum Bid Rate of Rs. 350


    Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has initiated the auction of 26,665 shares of promoter stock to existing promoter shareholders. Interested parties are invited to submit their bids for this auction within 35 days from the publication date of the notice, which is the 21st of Kartik, 2080. The minimum bid rate for participation in the auction is set at Rs. 350. Bidders are required to send their offers to the company’s head office located in RBB Merchant Banking Limited, Teku, Kathmandu. If no bids are received from the current founder shareholders within the specified timeframe, these shares will subsequently be made available for public auction. As of the most recent data available, NLBBL closed at Rs. 517.10.

    In a separate notice, Kumari Bank Limited (KBL) has announced the auction of 1,438 units of shares to the general public. Lal Bahadur Dhane, a KBL promoter, is facilitating the sale of these promoter shares to interested individuals in the general public. Similar to the NLBBL auction, potential investors are urged to submit their bids within 35 days from the publication date, which is the 21st of Kartik. Bids should be submitted at the company’s central office located at Kumari Capital Limited in Kathmandu. In the event that no offers are received from existing founder shareholders within the stipulated timeframe, these shares will become available for public auction. As of the most recent data available, KBL closed at Rs. 151.90, with KBLPO having an LTP (Last Traded Price) of Rs. 101 as of the 18th of October, 2023.

  • Nerude Laghubitta Bittiya Sanstha Limited reports a significant decline in net profit and increase in NPL for Q3 FY 2079/80

    Nerude Laghubitta Bittiya Sanstha Limited reports a significant decline in net profit and increase in NPL for Q3 FY 2079/80


    Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has released its third-quarter report for FY 2079/2080, revealing a significant decline in net profit by 85.22%. According to the report, the net profit decreased to Rs. 3.15 crores, compared to Rs. 21.37 crores in the corresponding quarter of the previous year.

    The company’s borrowings decreased by 5.57% to Rs. 4.91 Arba, down from Rs. 5.20 Arba in the same quarter of the previous year. On the other hand, deposits increased by 5.29% to Rs. 3.37 Arba, while loans and advances experienced a slight decrease of 0.26% to 9.89 Arba during this quarter.

    The core revenue, represented by net interest income, saw a significant decrease of 30.82% to Rs. 33.05 crores, compared to Rs. 47.78 crores in the corresponding quarter of the previous year.

    The provision for possible losses amounted to Rs. 7.10 crores, marking a substantial increase of 1278.48%, impacting the overall profitability for this period.

    In terms of financial position, the paid-up capital of the company stood at Rs. 73.20 crores in this quarter, with reserve and surplus at Rs. 52.27 crores.

    The company’s non-performing loans (NPL) stood at a higher level of 9.78%.

    The earnings per share (EPS) for the company is reported as Rs. 5.75, while the net worth per share stands at Rs. 171.41. The company traded at a price-to-earnings (P/E) multiple of 106.97 times.

  • Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger

    Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger


     

    The Special General Meeting (SGM) of Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) and Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has been scheduled for 10th Baisakh, 2080. The MMFDB meeting will be held at Hotel Sarathi in Dhulikhel, while the NLBBL meeting will be held at Udhyog Sangathan Morang in Biratnagar. The MMFDB meeting will begin at 12:30 PM that day, while the NLBBL meeting will begin at 11 AM.

  • Nerude and Mirmire Laghubitta Sign Merger Agreement

    Nerude and Mirmire Laghubitta Sign Merger Agreement


     

    According to the Nepal Stock Exchange, the final merger agreement between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has been completed and approved (MEPSE).

    Poush 11, where the chairman of both organizations signed a memorandum of understanding for merger, the companies had signed a memorandum of understanding for merger.

  • Last day to claim the proposed dividend by Nerude Laghubitta and Shikhar Insurance Company.

    Last day to claim the proposed dividend by Nerude Laghubitta and Shikhar Insurance Company.


    The dividend proposed by Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Shikhar Insurance Company Limited expires today (SICL).

    The 16th Annual General Meeting (AGM) of Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has been scheduled for the 28th of Magh, 2079. The meeting will begin at 11 a.m. in Morang’s Assembly Hall, Biratnagar-2.