Kist Bank scrip worth Rs 6.12 crore traded as the trading resumes

ShareSansar, December 10:

The resumption of the shares trading of Kist Bank Limited from yesterday after a hiatus of nine months saw a massive response from the investors in the share market as per unit shares were traded up to Rs 13 more than the last traded price.

In fact, no other listed companies traded as much as Kist Bank on the trading floor yesterday – altogether 4 lakh 10 thousand  470 unit shares of the bank were traded through 11 transactions for Rs 6.12 crore.

A unit share of Kist Bank, which was priced at Rs 137 when the market opened yesterday.
The resumption of the share trading has come as a huge respite to hundreds of share traders who have invested in Kist Bank’s shares.

Trading of the shares of Kist Bank was suspended by the NEPSE after Kist signed a Memorandum of Understanding with Vibor Bikas Bank for the merger of the two BFIs back on March 21, 2013.

However, seven months after the MoU, both the BFIs decided to pull out of the merger process due to some internal reasons, particularly the resignation of Kamal Gyawali, the then Managing Director of Kist Bank, owing to some loan scam related to his spouse.

Over the recent months Kist Bank, meanwhile, had been facing mounting pressure from the shareholders to resume the share trading.