Kathmandu, Sept. 13
A special general meeting
of Civil Capital Market Limited has approved its acquisition by Himalayan
Capital Limited.
The meeting held on
Wednesday in the Capital passed all the proposals needed for the selling of the
company.
Himalayan Capital Limited
is acquiring Civil at the swap ratio of 31:100.
Civil and Himalayan both
are merchant banks. Civil Capital was licensed by the Securities Board of Nepal
(SEBON) in 2009. The company is a subsidiary of Civil Bank and Civil Group, led
by Ichchha Raj Tamang who is serving a jail term following the misappropriation
of public money in Civil Cooperatives and real estate business.
Likewise, Himalayan Capital
is a subsidiary of Himalayan Bank Limited and provides services relating to
financial management, capital structuring, wealth management and advisory services.
Published in The Rising Nepal daily on 14 September 2023.
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