These entities have been alleged for leaking out information of their acquisition before it was sent to NEPSE.
KATHMANDU, July 9: Nepal Stock Exchange (Nepse) has announced that it will carry out an investigation against Himalayan Bank Limited (HBL) and Civil Bank Limited (CBL), which have been looking forward to acquisition, on suspicion of their involvement in insider trading.
HBL and CBL ink agreement for acquisition
The front line regulator of the shares market is considering taking action against these commercial banks if they are found guilty of insider trading. These entities have been alleged for leaking out information of their acquisition before it was sent to NEPSE.
Earlier, HBL and CBL had made public that they would be signing a memorandum of understanding for their unification on Friday, which however could not be materialized. HBL even informed that its board meeting held on Thursday approved the bank’s plan to acquire CBL.
HBL and CBL have long been negotiating to settle swap ratios for acquisition. According to a Nepse source, the regulator is planning to summon banks’ officials for clarification on Monday.
