CYC Laghubitta and Adhikhola Laghubitta Sign Merger Agreement; Trading halted

CYC Laghubitta Bittiya Sanstha Limited (CYCL) and Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL) have decided to go on merger with each other.

The Memorandum of Understanding (MoU) agreement has been signed between the two companies on Ashad 22, 2079 at 5:30 pm. As such, AKBSL and CYCL has published a notice requesting the exchange to halt its trading.

AKBSL had previously signed merger agreement with Dhaulagiri Laghubitta Bittiya Sanstha and the trading of AKBSL was halted on Poush 3, 2076. However, the firms' merger process did not get through, and as per the NEPSE's decision, the trading of the company was resumed after nearly two and a half years, from 27th Jestha, 2079.

CYCL posted a net profit of Rs. 99.91 million in the third quarter of the fiscal year 2078/79. Meanwhile, AKBSL posted a net profit of Rs. 34.83 million. As of writing, CYCL has an LTP of Rs. 1,698.20 and AKBSL has an LTP of Rs. 1,370.