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Nepal prepares to reserve IPO shares for remittance earners

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Kathmandu, February 22

Government stakeholders have agreed to allocate a certain quota reserved for Nepali migrant workers in every sale of IPO shares.

Officials say they want to encourage remittance earners to invest their money in the productive sector. Of late, the general attraction to IPO shares is consistently increasing among Nepalis.

Top financial officials of the country including National Planning Commission Vice-chairman Biswo Nath Poudel and Nepal Rastra Bank Governor Maha Prasad Adhikari held a meeting and decided to allocate five per cent shares to migrant workers in respect of their hard work for the country. The Ministry of Finance has also expressed its content.

The government will prepare a standard operating procedure to regulate the reservation.

Meanwhile, the officials are meeting Nepal Stock Exchange CEO Krishna Bahadur Karki and Securities Board of Nepal Chairman Ramesh Kumar Hamal among others this afternoon to discuss the issue further.

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