Civil Bank to aquire Hama Merchant & Finance; trading halted of Hama Merchant in NEPSE from today

Trading of Hama Merchant & Finance Limited (HAMA) has been suspended from today in Nepal Stock Exchange Limited (NEPSE) for the acquisition process by Civil Bank Limited (CBL). Civil Bank and Hama Merchant signed an agreement for the acquisition process. At present, HAMA has paid up capital of Rs 22.10 crore. The finance company has earned net profit of Rs 2.96 crore in fourth quarter of last fiscal year 72/73. Likewise, Civil Bank has a paid up capital of Rs 3.08 arba. The bank has  earned net profit of Rs 33.66 crore in fourth quarter of the last fiscal year 2072/73. Earlier investors have reported at Securities Board of Nepal stating that Hama Merchant & Finance has fraud them with fake rumors and propaganda regarding its 100% right share  and not conducting Special General Meeting (SGM).