Kathmandu. National Life Insurance has signed an agreement to buy shares of Pakistan’s Habib Bank in Himalayan Bank.

An agreement has been reached to buy shares at the rate of Rs 118.80 per share.

It is said that the documents have been submitted to all Himalayan banks after signing the agreement. Meanwhile, Himalayan Bank is preparing to send the documents to Nepal Rastra Bank for final approval.

On the other hand, National Life Insurance has also taken approval from the Authority to buy habib’s shares.

Habib Bank has bought 28 million 12 thousand 447.45 units of shares in Himalayan Bank. National bought Habib’s shares for Rs 118.88 per share.

Habib’s shares were bought by National 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.

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.