Trading of Global IME, Janata Bank, Kailash Dev. Bank and Suryodaya Laghubitta put on halt: Impact of Merger and Acquisition

The trading of Global IME bank (GBIME), Janata Bank Nepal limited (JBNL), Kailash Bikas Bank Limited (KBBL) and Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) is being on halt from today (22^nd Ashadh 2076).

NEPSE stops the trading of those company after they have agreed to go on merger and acquisition process.

Following the instruction of NRB about the big merger, GBIME and JBNL have signed agreement letter for merger on Friday.  On the same day Prime Commercial Bank (PCBL) has made an agreement to acquire KBBL and SLBS and Trilok Laghubitta Bittiya Sanstha Limited (TLBSL) agreed to go on merger.

According to NEPSE, trading of these companies has been kept on halt from today and will be reopen only after the completion of merger and acquisition process.