Wednesday, August 5, 2020

Finally, Ncell to go public

Yet another multinational company – after Unilever Nepal – is going public soon.
A private telecom service provider, Ncell Pvt Ltd has converted itself into a public company, in line with the Nepal Telecommunication Authority (NTA) directives.
The company has also been renamed ‘Ncell Axiata Ltd’ from its earlier registered name Ncell Pvt Ltd, giving an indication to float share to the general public. Axiata is its parent company. Axiata is a multinational telecommunications conglomerate listed in Malaysian stock exchange.
Issuing a notice today, the first private mobile operator said that it has renamed ‘Ncell Axiata Ltd’ and got transformed into the public company following a decision of the Office of Company Registrar on Monday.
Earlier in 2016, a leading Asian telecommunication group headquartered in Malaysia Axiata Group acquired Ncell from TeliaSonera and Reynolds Holdings at $1.365 billion. The deal secured Axiata an 80 per cent equity interest and controlling stake in Ncell.
Nepal Telecommunication Authority (NTA) – the regulatory body of mobile service providers – had issued a circular to the licensed telecom service providers to offer their shares to the public. 
Another telecom service provider Nepal Telecom is already listed at Nepal Stock Exchange (Nepse). Ncell will be not only the second multinational company to be listed at the stock exchange but also second telecom service provider to be listed in the stock exchange.

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