October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. 

Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.

According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.