NEPSE asks Civil Bank to respond on the news leak of acquisition request to Himalayan Bank

The news that Civil Bank(CBL) has sent an application to Himalayan Bank requesting for acquisition seems to have circulated in the market.

As a result, CBL's stock has gained aggressively today. The price opened at a gap up from yesterday's close. As of writing, no sell orders are seen in the TMS.

It is clear that this news has affected the stock price. Thus, NEPSE has issued a notice a few moments ago asking CBL to clarify on the matter.

According to the existing rules, any news or activity that affects the stock price of a company has to be reported to NEPSE. Also, in this particular case, the acquisition/merger process should be kept confidential unless NEPSE officially announces on the matter.