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Sri Lanka's Central Bank has approved the merger between Nations Trust Bank and Mercantile Leasing Ltd, a key shareholder of both units said Sunday. Shareholders of both entities approved the transaction where, each MLL shareholder gets two shares of NTB for every share they own, when the merger goes through.
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NTB presently has 85.0 million shares. The 2:1 NTB:MLL swap ratio creates 40.
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8 million new NTB shares, raising the bank's issued share capital to 125.8 million.
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