Trading Halt of Swadeshi Laghubitta Bittiya Sanstha (SDESI) and NIC Asia Laghubitta Bittiya Sanstha (NICLBSL) amidst merger process

Sun, Aug 16, 2020 11:50 AM on Latest, Corporate,

The 89th Board Meeting of Swadeshi Laghubitta Bittiya Sanstha Limited has passed the resolution to merge with NIC Asia Laghubitta Bittiya Sanstha Limited. The Memorandum of Understanding (MoU) has been signed on 16th August 2020.

Since the MoU has been signed between the two institutions, they have now issued separate request notice to NEPSE to halt trading of Swadeshi Laghubitta Bittiya Sanstha Limited (SDESI) and NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL).

Their shares won't be traded in NEPSE's secondary market until they are over with the merger process. The LTP of SDESI stood Rs 800 per share, whereas, NICLBSL LTP stood Rs 759.