Following the successful merger between Prabhu Life Insurance Limited (PLI) and Mahalaxmi Life Insurance Company Limited, a total of 4,29,60,000 shares of the newly formed entity, Prabhu Mahalaxmi Life Insurance Limited (PMLI), have now been officially listed on the Nepal Stock Exchange (NEPSE). This significant development, sanctioned by regulatory authorities and in compliance with the Securities Listing Regulations of 2075, marks the commencement of the trading of the consolidated shares on the Stock Exchange starting from tomorrow.
The merger agreement between PLI and Mahalaxmi Life Insurance was formalized on the 29th of Ashad, 2080. Under the terms of the merger, a swap ratio of 1:1 was established. The total listed shares for PLI stood at 21,960,000 units, and Mahalaxmi Life Insurance had 21,000,000 units. Consequently, the merger results in a combined total of 42,960,000 unit shares for Prabhu Mahalaxmi Life Insurance Limited. This consolidation is expected to have implications for the company’s presence and activities in the stock market, reflecting the integration of resources and operations from both entities.