Bhaktapur Finance enters merger with Central Finance; trading halts in Nepse

Bhaktapur Finance Company Limited (BFCL) and Central Finance Company Limited (CFCL) have signed a Memorandum of Understanding (MoU) to enter into the merger process. The trading of  both BFCL and  CFCL has been  suspended in Nepal Stock Exchange Limited (Nepse) from yesterday (Chaitra 29). BFCL’s paid up capital remains at Rs. 20 crore and with reserve of  Rs. 1.81 crore whereas CFCL’s paid up capital remains at Rs 18.53 crore with  reserve of Rs. 3.95 crore. The  net profit of Bhaktapur Finance stood at  Rs. 27.63 lakh in the second quarter of the ongoing fiscal year.