Tag: Buffett

  • Kumari Bank and NEPSE Seal Deal for Listing 10% KBL Debenture 2090

    Kumari Bank and NEPSE Seal Deal for Listing 10% KBL Debenture 2090


    Kumari Bank Limited (KBL) and the Nepal Stock Exchange (NEPSE) finalized an agreement today for the listing of “10% KBL Debenture 2090” (KBLD90).

    Under the terms of the agreement, 50,00,000 units of the debenture are set to be listed at a par value of Rs. 1000 per unit. The subscription period for the issue was open from the 2nd Kartik to the 13th Kartik in the year 2080.

    The commencement of share trading is expected to take place on Thursday. Nabil Investment Banking Limited served as the issue manager for this process, and in accordance with existing laws, the stocks were officially listed on NEPSE on the 22nd of Mangsir in the year 2080.

    As indicated by its name, the “10% KBL Debenture 2090” is a debenture with a maturity period of 10 years and a fixed coupon rate of 10%.

  • Himalayan Capital and NEPSE Ink Agreement for Listing ‘Himalayan 80-20’ Fund

    Himalayan Capital and NEPSE Ink Agreement for Listing ‘Himalayan 80-20’ Fund


    Today, representatives from Himalayan Capital Limited and the Nepal Stock Exchange (NEPSE) finalized an agreement for the listing of “Himalayan 80-20.”

    Under the terms of the agreement, 10,00,00,000 units of “Himalayan 80-20” are set to be listed at a par value of Rs. 10 per unit. The subscription period for the issue was open to the general public from the 32nd of Shrawan to the 15th of Bhadra in the year 2080 and subsequently extended to institutions.

    Trading for the shares is anticipated to commence on Thursday. “Himalayan 80-20” is categorized as a closed-end fund and will be traded on the NEPSE platform. Notably, the fund comes with a maturity period of 10 years.

     

  • NEPSE Records Modest Gain Amidst Stock Market Fluctuations: Sonapur Minerals Tops Turnover

    NEPSE Records Modest Gain Amidst Stock Market Fluctuations: Sonapur Minerals Tops Turnover


    The Nepal Stock Exchange (NEPSE) Index has recorded a modest gain of 2.60 points or 0.13% compared to the previous day’s closing, concluding at 1,988.04 points. In the preceding trading session, the index witnessed a more substantial increase of 36.86 points.

    The market commenced today with the index opening at 1990.36. It experienced fluctuations throughout the day, reaching an intraday low of 1,976.04 and reaching an intraday high of 2,017.22.

    During today’s trading activities, there were 292 different stocks involved in 81,451 transactions. The total volume of shares traded amounted to 12,095,539, resulting in a total turnover of Rs. 3.90 Arba. The market capitalization stood at Rs. 30.65 Kharba, with a float market capitalization of Rs. 10.68 Kharba.

    Sonapur Minerals And Oil Limited (SONA) emerged as the stock with the highest turnover, reaching Rs. 14.67 crores and closing at a market price of Rs. 359. Additionally, Bottlers Nepal (Balaju) Limited (BNL) experienced a positive circuit of 10%, followed by Molung Hydropower Company Limited (MHCL) at 9.98%, and Ghalemdi Hydro Limited (GHL) at 9.96%.

    Conversely, Kutheli Bukhari Small Hydropower Limited (KBSH) and Super Mai Hydropower Limited (SMH) faced the highest losses, with declines of 5.69% and 5.01%, respectively.

    Examining sector indices, four sectors closed in the red. The “Development Bank Index” observed the highest gain of 1.15%, while the “Hotels And Tourism Index” incurred a loss of 1.62%.

  • Government Commission Successfully Resolves Over 5,000 Usury Complaints, Returns Assets to Victims

    Government Commission Successfully Resolves Over 5,000 Usury Complaints, Returns Assets to Victims


    The Commission formed by the government to investigate and resolve cases related to usury has effectively handled 5,155 out of the 28,000 received complaints, according to Uttamraj Subedi, a Commission member and Additional Inspector General of Police. Since its inception, the Commission has facilitated the return of 218 bigha 10 kattha 7 dhur (793) to victims from usurious lenders through reconciliation.

    In their study, the Commission found documented transactions exceeding Rs 5.857 billion between victims and loan sharks. The lenders asserted a pending recovery of over Rs 1.62 billion from victims. Notably, a consensus settlement between the parties resolved transactions totaling over Rs 1.72 billion, as disclosed by the Commission.

    Victims’ applications were collected from April 30 to May 28, with 21,552 complaints registered from eight districts in Madhesh Province and 1,862 from Nawalparashi Paschim. Gauri Bahadur Karki, the Commission Chairperson, confirmed that the Commission submitted its report to the Prime Minister last Tuesday. Karki added that among the 39 districts, 29 reported cases, both registered and resolved, indicating that 39 districts had no usury problems.

    To tackle issues related to loan-sharking, the government established a three-member high-powered Commission, and the corresponding law was passed and enforced by the Parliament. The Commission’s dedicated efforts underscore a commitment to safeguarding vulnerable individuals from usurious practices.

  • Kamana Sewa Bikas Bank Limited Initiates Auction of 5,09,892 Promoter Shares: Exclusive Opportunity for Former Promoter Shareholders

    Kamana Sewa Bikas Bank Limited Initiates Auction of 5,09,892 Promoter Shares: Exclusive Opportunity for Former Promoter Shareholders


    The current promoters of Kamana Sewa Bikas Bank Limited (KSBBL) have initiated the auction of 5,09,892 units of shares, starting from the 25th of Mangsir, 2080. This auction is exclusively open to interested former promoter shareholders of the bank. Eligible bidders have a 35-day window from the publication date of this notice, which is also the 25th of Mangsir, to submit their bids. Bids should be submitted at the central office of the bank, situated in Gyaneshwor, Kathmandu.

    In the event that no bids are received from the existing former promoter shareholders within the stipulated timeframe, the shares will subsequently be made available for auction to the general public. The closing price of KSBBL stood at Rs. 318 in the previous trading session. It is noteworthy that as of the 15th of August, 2023, KSBBLP (presumably referring to the bank’s promoter shares) has a Last Traded Price (LTP) of Rs. 156.00.

    This auction notice outlines the terms and conditions for former promoter shareholders to participate in the bidding process, emphasizing the specific timeframe and location for bid submission. The market values of KSBBL and KSBBLP provide additional context to potential bidders regarding the current financial standing of the bank and its promoter shares.

  • “NEPSE Records Volatile Trading Day: High Turnover, Notable Gains, and Losses in Latest Market Update”

    “NEPSE Records Volatile Trading Day: High Turnover, Notable Gains, and Losses in Latest Market Update”


    The Nepal Stock Exchange (NEPSE) Index recorded a decline of 15.40 points, equivalent to 0.78%, settling at 1,948.57 points compared to the previous day’s closing.

    In the preceding trading session, the market had witnessed an impressive 6% surge, prompting multiple trading halts and leading to the early closure of the market for the entire day. The total turnover on NEPSE reached a noteworthy Rs 48.24 Crores, concluding at 1,963.98 points with a substantial triple-digit gain of 111.20 points.

    The day commenced with the index opening at 1989.54, touching an intraday low of 1,928.76, and reaching an intraday high of 1,989.71.

    Throughout the day’s trading activities, 303 different stocks were involved in 109,918 transactions. The volume of shares traded totaled 14,698,517, resulting in a total turnover of Rs. 4.84 Arba, marking the highest turnover recorded in the past 5 and a half months. Notably, the market capitalization stood at Rs. 30.04 Kharba, with a float market capitalization of Rs. 10.49 Kharba.

    Sonapur Minerals And Oil Limited (SONA) emerged as the leader in turnover, reaching Rs. 25.15 crores and closing at a market price of Rs. 328.

    Additionally, Bottlers Nepal (Balaju) Limited (BNL), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL), and Dolti Power Company Limited (DOLTI) displayed the highest gains at 10%, followed by Hathway Investment Nepal Limited (HATHY) with a gain of 9.90%.

    Conversely, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) recorded the most significant loss of 7.15% on the day.

    In terms of sector indices, four sector indices closed positively, with the “Mutual Fund Index” registering the highest gain at 2.16%. On the other hand, the “Development Bank Index” experienced the most substantial loss, declining by 2.09%.

  • SEBON Approves Inclusion of Sarbottam Cement’s IPO in Pipeline, Sets Stage for Rs. 1.29 Arba Offering

    SEBON Approves Inclusion of Sarbottam Cement’s IPO in Pipeline, Sets Stage for Rs. 1.29 Arba Offering


    Sarbottam Cement Ltd.’s Initial Public Offering (IPO) has been included in the Securities Board of Nepal’s (SEBON) IPO pipeline for approval. The company intends to issue 3,600,000 unit shares to both local and general investors, with the IPO expected to generate a total of Rs. 1.29 Arba. Priced at Rs. 360.90 per share for both local and general investors, Sarbottam Cement Ltd. plans to conduct the IPO through the book-building method. Global IME Capital Ltd. has been appointed as the issue manager, and the application was submitted to SEBON on Mangsir 18, 2080. ICRA Nepal has reaffirmed Sarbottam Cement Limited’s issuer rating at [ICRANP-IR] BBB+, along with the long-term rating of [ICRANP] LBBB+ and the short-term rating of [ICRANP] A2 for the company’s bank loan limits.

    Additionally, the IPO proposal of Bikash Hydropower Company Ltd. has also been added to SEBON’s pipeline. The company has put forth a proposal to issue a total of 4,454,596 shares to both local and general investors, raising Rs. 44.54 crores. The application for this proposal was submitted on Mangsir 19, 2080, and Prabhu Capital Limited will serve as the issue manager for the public offering. ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB to Bikash Hydropower Company Limited (BHCL), indicating a moderate risk of default regarding the timely servicing of financial obligations. It’s important to note that this rating reflects a general assessment of the company’s creditworthiness and is not specific to any particular debt instrument.

  • “NEPSE Lists 18.55 Million Right Shares of Arun Kabeli Power Limited Following Successful Auction”

    “NEPSE Lists 18.55 Million Right Shares of Arun Kabeli Power Limited Following Successful Auction”


    Arun Kabeli Power Limited (AKPL) has successfully listed 18,552,105 units of right shares on the Nepal Stock Exchange (NEPSE). The company had previously issued these shares in a 1:1 ratio, amounting to a total of 185,521,05 units, available for subscription to its shareholders between the 11th and 31st of Bhadra, 2080. However, only 165,372,88 units were allotted to eligible shareholders during this initial offering. Subsequently, the remaining 20,148,17 units of unsubscribed right shares were put up for auction, which took place from the 30th of Ashwin to the 14th of Kartik, 2080.

    Nabil Investment Banking Limited acted as the auction manager for AKPL during this process. Following the auction, the same 18,552,105 units of right shares are now officially listed on NEPSE. At the time of this report, the Last Traded Price (LTP) for AKPL stands at Rs. 171.10. This successful listing reflects the company’s efforts to engage its shareholders and capitalize on the market through the auctioning of unsubscribed shares, ultimately contributing to its market presence and value.

  • Gold Prices in Nepal Experience Decline of Rs. 1,300 per Tola, Reflecting Global Market Trends

    Gold Prices in Nepal Experience Decline of Rs. 1,300 per Tola, Reflecting Global Market Trends


    The price of gold faced a decline of Rs. 1,300 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The present rate for fine gold is recorded at Rs. 1,17,500 per tola, contrasting with the stable rate of Rs. 1,18,800 per tola on Friday. Similarly, Tejabi gold witnessed a decrease to Rs. 1,16,950 per tola today, reflecting a drop of Rs. 1,300 from its Friday rate of Rs. 1,18,250 per tola.

    On December 4, 2023, both fine gold and Tejabi gold had attained record highs of Rs. 1,21,600 and Rs. 1,21,000 per tola, respectively. Additionally, silver observed a decline of Rs. 35 per tola, with the current market rate standing at Rs. 1,425 per tola, compared to the closing rate of Rs. 1,460 per tola on Friday.

    The global downturn in gold prices, now at $2,004.50 per ounce, has notably impacted the domestic bullion market. Simultaneously, the international silver market indicates a trading value of $22.97 per ounce.

  • “Nepal Life Insurance Company Disburses Rs 69.62 Arba in Claims, Demonstrates Efficient Settlement Process”

    “Nepal Life Insurance Company Disburses Rs 69.62 Arba in Claims, Demonstrates Efficient Settlement Process”


    Nepal Life Insurance Company has resolved insurance claims totaling Rs 69.62 Arba as of the end of Ashoj, 2080. The disbursements primarily include death-related claims distributed among 13,512 policyholders and their nominees, encompassing both local and international beneficiaries, with a cumulative payout of Rs 5.68 Arba. The company, aiming for efficiency, has successfully settled 93% of claims by the conclusion of Ashoj. Furthermore, it commits to a swift resolution for accidental death-related claims within 3 working days and other death-related claims within 7 working days, contingent on complete documentation. Notably, the insurer has achieved a commendable record, settling 46% of claims within 3 days, 67% within 7 days, and 81% within 1 month of the comprehensive documentation submission, as highlighted in the media statement.

  • Chilime Hydropower Company Proposes 15% Dividend and Announces AGM for Fiscal Year 2079/80

    Chilime Hydropower Company Proposes 15% Dividend and Announces AGM for Fiscal Year 2079/80


    Chilime Hydropower Company Limited (CHCL) has recommended a dividend of 15% and scheduled its 27th Annual General Meeting (AGM) for Poush 20, 2080.

    During the 423rd meeting of the board of directors on Mangsir 22, the proposal included a 15% dividend for the fiscal year 2079/80. The proposed distribution comprises 10% bonus shares amounting to Rs. 72.58 Crores and a 5% cash dividend of Rs. 36.29 Crores. The company’s current paid-up capital stands at Rs. 7.25 Arba.

    To facilitate dividend distribution and the AGM, the company has set the book closure date for Poush 08. Shareholders holding positions on or before this date will be eligible for the dividend payout and can participate in the AGM.

    As of the latest update, the Last Traded Price (LTP) of CHCL shares is Rs. 479.

  • Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad

    Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad


    Himalayan Reinsurance Limited has successfully allocated IPO shares to Nepalese citizens working abroad, marking the completion of the allotment process on 24th Mangsir, 2080. The company, with a total issued capital of Rs. 10 Arba, allocated 30% or 3,00,00,000 unit shares for the public, including Nepalese citizens working abroad and the general public. In the specific category for Nepalese citizens working abroad, 10% or 30,00,000 unit shares were issued at a rate of Rs. 206 per share (Rs. 100 face value + Rs. 106 premium price) from December 4th to 18th Mangsir.

    The allotment module received a total of 32,056 applications for 4,338,650 units. Valid applications ranged from 10 to 170 units, with applicants in this range receiving their requested allocations in full. For those applying for 180 to 19,500 units, 170 units were allotted per applicant, and a lottery process determined an additional 10 units for 2,651 applicants.

    NMB Capital Limited served as the appointed issue manager, allowing applicants to place bids for a minimum of 10 units and a maximum of 300,000 units. Going forward, Himalayan Reinsurance Limited will issue the remaining 2,49,00,000 units for the general public from 27th Mangsir to 1st Poush, 2080, at a rate of Rs. 206 per share.

    The prominent promoters of Himalayan Reinsurance include key business conglomerates and significant financial institutions such as Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.

    ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- for Himalayan Reinsurance Limited, signifying an adequate level of safety regarding the timely servicing of financial obligations and indicating low credit risk for the company.