Ghodighoda Laghubitta and Unique Nepal Laghubitta sign merger agreement; Trading of former company halted

Sun, Nov 8, 2020 11:35 AM on Latest, Merger/Acquistion,

Based on the letter received by Nepal Stock Exchange (NEPSE) on Kartik 21, Ghodighoda Laghubitta and Unique Nepal Laghubitta have signed the merger agreement with each other.

Ghodighoda Laghubitta Bittiya Sanstha headquartered at Belauri Municipality - 04, Kanchanpur was established on Ashad 03, 2073. The company reported profits of Rs. 18 lakhs till the fourth quarter of fiscal year 2076/77. Meanwhile, Unique Nepal Laghubitta posted a net profit of Rs. 4.05 crores in the same quarter of the same fiscal year.

Unique Nepal Laghubitta was planning to issue an IPO of 2.70 lakh unit shares worth Rs 2.70 crore. It had already appointed Muktinath Capital as its issue manager. This means that the company can either issue an IPO and then go ahead with the merger process or issue an FPO after the merger. 

Important: This article was edited to ensure accuracy of facts.