Nepal Finance (NFS) Acquiring Lalitpur Finance; Companies Sign MoU

Nepal Finance Limited (NFS) is acquiring Lalitpur Finance Limited.

The 332nd meeting of the board of directors of Nepal Finance Limited held on Poush 22 approved the decision to acquire Lalitpur Finance Limited. Lalitpur Finance Limited is located in Lalitpur, Ward-05, Lagankhel.

The chairman of both the companies then signed on the Memorandum of Understanding (MoU) on Poush 23 in the presence of high-level authorities from both the institutions. With this, the acquisition procedure is now initiated.

As of writing, Nepal Finance Limited has an LTP of Rs. 230 in NEPSE. Meanwhile, the trading of Lalitpur Finance Limited is halted. Interestingly, Lalitpur Finance was in the acquisition process to Prime Commercial Bank Limited (PCBL). As per the decision of the 386^th BOD meeting of Lalitpur Finance held on 24^th Jestha, 2076, the finance company had agreed to be acquired by Prime Commercial Bank Limited (PCBL).