Share Trading of Mega, Machhapuchchhre & Janata Bank to resume within next week

Mega Bank Nepal Limited (MEGA) had signed a memorandum of understanding with Paschimanchal Bikas Bank for merger on 28 Januray, 2015 and the joint operation of the merged entity  started on April 25, 2016 as Mega BanK Nepal Limited.  The trading of scrips of the bank is still halted at Nepal Stock Exchange Limited. Mr. Dipendra Agrawal, BoD member of Mega Bank Nepal Limited said, “ we have completed the process to  resume the trading and the trading will resume next week.” Machhapuchchhre Bank Limited (MBL)  and Janata Bank Nepal Limited (JBNL) went into a merger on September 8, 2015 and the merger was called off on April 11, 2016. The trading of scrips of both the banks is still at halt at Nepal Stock Exchange Limited. Mr. Bishwa Subedi, Company Secretary of Janata Bank Nepal Limited, “ the trading might resume within a week.” A meeting is being held today between the Bod members of Janata bank and Machhapuchchhre Bank to legally end the merger process after that the bank will be sending letter to Nepal Rastra Bank to call off the merger, he added. Tika Bhattarai, Company Secretary of Machhapuchchhre Bank Limited, “we have already requested Nepal Stock Exchange to resume the trading. “ We have completed the process to resume the trading and we expect the trading to start  by Baisakh, he added.