Trading of Kanchan Development Bank suspended in Nepse

February 10, 2020 | Investopaper

Nepal Stock Exchange (NEPSE) has suspended the trading of shares of Kanchan Development Bank from today i.e. Magh 27, 2076.

Due to the acquisition agreement with NMB Bank Limited, the shares of Kanchan Development Bank are halted for trading.

NMB Bank and Kanchan Development Bank have signed the MOU for the acquisition process on Magh 27.

NMB Bank has recently published the second-quarter report of the fiscal year 2076/77. The bank profit surged by 48 percent after the successful merger with OM Development Bank.

Kanchan Development Bank was trading at Rs. 283 before the suspension of trading.