A special general meeting of Nepal Investment Bank Ltd (NIBL) has decided acquisition of Jebil’s Finance. The meeting was called for acquisition of Jebil Finance.
The meeting approved the acquisition proposal, as per a media release. While NIBL’s paid-up capital is Rs 12.59 billion, that of Jebil’s Finance is Rs 840 million.
The share swap ratio has been set at 100:33. After the acquisition, the paid-up capital of NIBL will reach Rs 12.89 billion. NIBL’s total deposits after the acquisition will reach Rs 147 billion and total credit will be Rs 132 billion.
The board of directors and chief executive officer of NIBL will remain the same after the acquisition. The promoter-public ratio post acquisition will also be maintained at 69:31.