Kathmandu
After a hiatus of nine months, share trading of Kist Bank Limited is most likely to resume from tomorrow, according to the top official of the commercial bank.
“The board of directors has today written to Nepal Rastra Bank for the resumption of the trading,” highly placed source at Kist Bank told ShareSansar today. “If the central bank corresponds to NEPSE today itself then the trading will start tomorrow, or else it should start from day after tomorrow.”
This has come as a huge respite to hundreds of share traders who have invested in Kist Bank’s shares.
Trading of the shares of Kist Bank was suspended by the NEPSE after Kist signed a Memorandum of Understanding with Vibor Bikas Bank for the merger of the two BFIs back on March 21, 2013.
However, seven months after the MoU, both the BFIs decided to pull out of the merger process due to some internal reasons, particularly the resignation of Kamal Gyawali, the then Managing Director of Kist Bank, owing to some loan scam related to his spouse.
Kist Bank, meanwhile, has been facing mounting pressure from the shareholders to resume the share trading.
After a hiatus of nine months, share trading of Kist Bank Limited is most likely to resume from tomorrow, according to the top official of the commercial bank.
“The board of directors has today written to Nepal Rastra Bank for the resumption of the trading,” highly placed source at Kist Bank told ShareSansar today. “If the central bank corresponds to NEPSE today itself then the trading will start tomorrow, or else it should start from day after tomorrow.”
This has come as a huge respite to hundreds of share traders who have invested in Kist Bank’s shares.
Trading of the shares of Kist Bank was suspended by the NEPSE after Kist signed a Memorandum of Understanding with Vibor Bikas Bank for the merger of the two BFIs back on March 21, 2013.
However, seven months after the MoU, both the BFIs decided to pull out of the merger process due to some internal reasons, particularly the resignation of Kamal Gyawali, the then Managing Director of Kist Bank, owing to some loan scam related to his spouse.
Kist Bank, meanwhile, has been facing mounting pressure from the shareholders to resume the share trading.
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