First Microfinance Laghubitta and Mahila Laghubitta have officially signed a preliminary agreement to merge their business operations.
First Microfinance Laghubitta Bittiya Sanstha Limited and Mahila Laghubitta Bittiya Sanstha Limited has signed an initial agreement to merge with each other. The bilateral preliminary memorandum of understanding (MoU) was signed by both institutions on Shrawan 25, 2083 B.S. at 5:00 PM.
Informing the Regulators
To move forward with the merger process, both microfinance companies have sent letters to inform the relevant authorities. They have notified Nepal Stock Exchange (NEPSE), Securities Board of Nepal (SEBON), Nepal Rastra Bank, and CDS and Clearing Limited about their decision.
Head Office Locations
The central office of Mahila Laghubitta is located in Sanga, Banepa-13, Kavrepalanchowk. On other hand, First Microfinance has its central office in Gyaneshwor, Kathmandu-30. Now, these two institutions from different locations are preparing to join hands.
Suspension of Share Trading
Following the initial agreement, both companies have requested to halt trading of shares for their basic shareholders. This request is made in accordance with Section 3(1) and Section 7 of the guideline regarding merger and acquisition of organized institutions registered under SEBON, 2079. The trading will remain suspended until their general meeting is completed.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
