MoU Signed for Merger Between Two Microfinance Institutions

Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) and First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL) have signed a initial memorandum of understanding (MoU) for a merger between the two microfinance institutions. Mahila Laghubitta's central office is located in Banepa-13, Sangha, Kavrepalanchok, while First Microfinance's central office is in Gyaneshwor, Ward No. 30 of Kathmandu Metropolitan City. The companies said the agreement was signed in accordance with the provisions of the “Merger/Acquisition Directive for Organized Institutions Registered with the Securities Board of Nepal, 2079.” Following the agreement, Mahila Laghubitta has requested the Nepal Stock Exchange (NEPSE) to keep the share trading of its promoter shareholders suspended until the conclusion of the company’s general meeting, as required under Section 7 of the directive.