Trading of Hathway Finance suspended after finalization of acquisition with Global IME Bank; NEPSE issues a circular regarding the same

Sun, Mar 17, 2019 1:27 PM on Latest, NEPSE News, Stock Market,

Nepal Stock Exchange (NEPSE) has published a circular regarding the trading suspension of Hathway Finance Limited (HATH).

This comes after the finalization of acquisition of the finance company by the commercial bank veteran Global IME Bank (GBIME). The letter of acquisition was signed by both the parties on 30th Falgun, 2075. Trading in securities of HATH were suspended from 1st Chaitra, 2075.

The LTP of the finance company as of 14th March, 2019 stands at Rs.116 per share.

The paid up capital of Global IME stands at Rs.10 Arba 39 Crore whereas the paid up capital of Hathway stands at Rs.30 Crore. Hathway has its own history as it took the responsibility to improve once financially problematic Arun Finance.