MEGA Sends An Official Letter To NEPSE Regarding Its Merger With Nepal Investment Bank; Trading Is Halted From Today

Mega Bank Nepal Limited (MEGA) sends the Nepal Stock Exchange (NEPSE) an official letter regarding its merger with Nepal Investment Bank (NIB).

In this regard, Mega Bank Limited declares its merger with the NIB as of the 360th meeting of the Board of Directors (BOD) held on 27 Jestha, 2079. Mr. Bhoj Bahadur Shah, Chairman of the bank's Board of Directors, was authorized to approve and sign the draft Memorandum of Associations (MoU) for the merger on the same day. The bank also requests NEPSE to halt share trading for the purpose of merging the two companies. Accordingly, the trading of shares is halted for both MEGA and NIB from Monday, Jestha 30.

The last traded price of Mega stands Rs 226, whereas, of NIB it is Rs 265 per share.