The central bank is offloading its stake in the Nepal Stock Exchange (Nepse) Limited.
The central bank is divesting its stake in the stock exchange company through auction, according to a notice – publishing today by Nepal Rastra Bank (NRB) – that reads the NRB is selling 1.73 million units of Nepse shares at a minimum bidding price of Rs 1,032 per unit, after adding premium in the Rs 100 face value.
The central bank has sought a sealed application from the interested bank, financial institute, share trader and the listed organisation by August 19. The sealed documents should be submitted to the central bank’s fiscal management department before the deadline, the notice reads, adding that the central bank is selling 1,729,989 units of its stake of Nepse.
The Nepse has some 58.66 per cent government investment, 34.60 per cent central bank, 6.12 per cent NIDC Capital and remaining 0.62 per cent belongs to share brokers.
The trading process will be conducted as according to Nepal Rastra Bank Act.
Along with the central bank, the government also wants to divest its shares from the Nepse. But the government is taking time to offload its shares. The government will offload its share to bring in strategic partner in the stock exchange, according to Financial Sector Development Strategy.
A study team led by S R Panday – some five years ago to provide suggestions on the restructuring of Nepse – also advised the government to privatise Nepse by offloading its share to bring efficiency into the share market.
The central bank is divesting its stake in the stock exchange company through auction, according to a notice – publishing today by Nepal Rastra Bank (NRB) – that reads the NRB is selling 1.73 million units of Nepse shares at a minimum bidding price of Rs 1,032 per unit, after adding premium in the Rs 100 face value.
The central bank has sought a sealed application from the interested bank, financial institute, share trader and the listed organisation by August 19. The sealed documents should be submitted to the central bank’s fiscal management department before the deadline, the notice reads, adding that the central bank is selling 1,729,989 units of its stake of Nepse.
The Nepse has some 58.66 per cent government investment, 34.60 per cent central bank, 6.12 per cent NIDC Capital and remaining 0.62 per cent belongs to share brokers.
The trading process will be conducted as according to Nepal Rastra Bank Act.
Along with the central bank, the government also wants to divest its shares from the Nepse. But the government is taking time to offload its shares. The government will offload its share to bring in strategic partner in the stock exchange, according to Financial Sector Development Strategy.
A study team led by S R Panday – some five years ago to provide suggestions on the restructuring of Nepse – also advised the government to privatise Nepse by offloading its share to bring efficiency into the share market.
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