NRB decides to pull out of Nepal Stock Exchange

File image: Nepal Rastra Bank

Kathmandu, July 16

Nepal’s central Bank, which owns around 34.6 per cent stake in the country’s only stock exchange, has decided to sell its share of the company.

In a notice on Tuesday, the bank said that it is selling the share of NEPSE through an auction–the starting value of each unit of share of Rs 1,032. The bank has called for sealed quotations from any interested banks, financial institutions, share traders and the listed organisations by August 19.

The sealed documents shall be submitted to the NRB fiscal management department by the given deadline, it said.

The bank is selling 1,729,989 units of share. Around 58.66 percent of the company’s shares are owned by the government, 6.12 percent by NIDC Capital and share brokers own around 0.62 per cent of the company.

Published on July 16th, Tuesday, 2019 3:59 PM

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