Kalika Laghubitta Bittiya Sanstha to merge with Janasewi Laghubitta Bittiya Sanstha; NEPSE halts trading in security of the microfinance company

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the suspension in trading of Kalika Laghubitta Bittiya Sanstha Limited (KMCDB).

As per the notice published Kalika Laghubitta Bittiya Sanstha Limited and Janasewi Laghubitta Bittiya Sanstha Limited have signed Memorandum of Understanding (MoU) for merger and acquisition. Due to this, the trading in securities of KMCDB has been suspended until further notice.

As of Q3, KMCDB has a paid up capital of Rs.10.80 Crore with net profit of Rs.2 Crore. On the other hand, Janasewi Laghubitta currently has issued capital of Rs 14.43 crore and paid up value of Rs 9.8 crore. After the issuance of the IPO shares, the paid up value will scale up to Rs 14.43 crore.