Aarambha Microfinance and Chautari Laghubitta sign MoU for merger; trading in security of both the microfinance companies halted by NEPSE

Thu, Jun 6, 2019 2:22 PM on Latest, NEPSE News,
Aarambha M...

Nepal Stock Exchange Limited (NEPSE) has halted the trading in security of Aarambha Microfinance Limited (AMFI) and Chautari Laghubitta Bittiya Sanstha Limited (CHLBS).

The decision comes after both the parties had signed Memorandum of Understanding (MoU) regarding the merger of both the entities on 22nd Jestha, 2076. NEPSE has halted trading in securities of both the institutions from 23rd Jestha, 2076 i.e. today, until further notice.

The current paid of capital of CHLBS is Rs.18.60 Crore and that of AMFI is Rs.6 Crore. The promoter public shareholding ratio of the merged entity will stand at 63.66:36.34. The swap ratio has been established at 1:1. The merged entity will operate under the name Aarambha Chautari Laghubitta Bittiya Sanstha Limited.