Kathmandu. The share price of Muktinath Bikas Bank Limited has fallen drastically in the secondary market after the signing of the initial memorandum of understanding (MoU) for the acquisition of Sindhu Bikas Bank and Janaki Finance. With the continuous decline, the share price of 16 listed development banks has fallen to the lowest position i.e. 16th position in the rankings.
On September 2, Muktinath Bikas Bank had signed an agreement to acquire Sindhu Bikas Bank and Janaki Finance. Prior to the agreement, the bank’s share price was Rs 356.90 per share on September 1 and it was ranked 14th in the regional ranking. On the first trading day after the deal, the bank’s share price fell by Rs 10.90 (3.05 per cent) to Rs 346.00 per share, which took the ranking to the 15th position.
The decline in prices did not stop there. On Wednesday, the bank’s share price fell by Rs 27.60 (7.98 per cent) to Rs 318.40 per share. Due to this sharp decline, Muktinath Bikas Bank has shrunk to the 16th position, the lowest among the 16 companies listed in the Samagra Vikas Bank group.
