Trading of Cosmos Dev. Bank suspended; to be acquired by Shangrila Dev. Bank

Trading of Cosmos Development Bank (CSDBL) has been suspended in NEPSE effective today (Poush 20, 2073). As per the notice published in NEPSE, the trading has been halted for the purpose of acquisition by Shangrila Development Bank Ltd. The last traded price of CSDBL stood at Rs. 428 as of December 27, 2016. CSDBL had earned net profit of Rs 50.09 lakh in the first quarter of the fiscal year 2073/74. Its paid up capital remains at Rs. 9.89 crore. It proposed 11.80% bonus share from the profit it made in FY 2072/73.