Kathmandu. National Life Insurance Company (NLIC) is going to buy a stake in Pakistan’s Habib Bank in Himalayan Bank. National bank is going to buy 28 million 12 thousand 447.45 units of shares held in Habib’s Himalayan Bank.

According to sources, National will buy Habib’s shares for Rs 118 per share. Habib had issued a notice for the sale of its founder’s shares in Himalayan Bank at Rs 112.80 per share. Accordingly, national qualified companies have been selected from among the applicants.

National is going to buy the shares of Habib for Rs 3.16 billion. Unified Directive No. 2081 issued by Nepal Rastra Bank. According to section 10, the first priority should be given to the founder shareholders to buy the founder shares.

The existing founding shareholders of the bank were required to submit an application to the bank’s law department at Heritz Plaza, Kamaladi, Kathmandu within 35 days. According to the same arrangement, other companies and individuals had also applied for the purchase of shares of the bank. National Life has been selected from among the applicants, sources said.

Currently, Habib Bank owns 12.93 per cent, Employees Provident Fund 12.62 per cent, N Trading Company 8.26 per cent, Mutual Trading Company 7.66 per cent, Abha International Pvt Ltd 7.46 per cent, Chhaya International Pvt Ltd 5.78 per cent, Pradeep Jung Pandey 1.98 per cent, Shashikant Agrawal 1.71 per cent, Ichharaj Tamang 1.36 per cent and National Life 1.25 per cent.

Asian Investment and Trading Company owns 0.77 percent, Rita Malla 0.73 percent, Prabha Goenka Bhimsaria 0.67 percent, Bijay International Pvt Ltd 0.52 percent and Anju Khetan 0.50 percent.