Tag: Buffett

  • NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares

    NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares


    “NIC Asia Bank Limited Initiates Auction for SKBBL Promoter Shares”

    Commencing from the 24th of Mangsir to the 29th of Poush, 2080, NIC Asia Bank Limited (NICA) has initiated an auction for the promoter shares of Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited (SKBBL).

    The auction involves 3,92,657 units of SKBBL promoter shares and is open to qualified interested promoter shareholders of Sana Kisan Co-operative and other promoter shareholders. However, the notice stipulates that priority will be given to Sana Kisan Co-operative. The minimum bid rate for the auction is set at Rs. 348, with a minimum bid quantity of 1,000 units for promoter shares.

    While bidders have the option to bid for the entire issue, they are required to adhere to the Nepal Rastra Bank’s regulations, ensuring that the specified quantity of shares per entity is not exceeded. NIC Asia Capital has been appointed as the auction manager for this issue.

    As of the latest update, SKBBL has a Last Traded Price (LTP) of Rs. 881.

  • Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) Wraps Up Dividend Offer Today

    Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) Wraps Up Dividend Offer Today


    Investors have until today to seize the opportunity for a 13.01% dividend from Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL), as the company has declared its 22nd Annual General Meeting (AGM) on 4th Poush, 2080.

    During the 418th board of directors meeting convened on Ashwin 30, it was decided to allocate the dividend on the paid-up capital of Rs. 1.29 Arba. The proposed dividend includes a 12.3599% bonus shares amounting to Rs. 15.95 crores and a 0.6505% cash dividend (inclusive of tax) totaling Rs. 83.94 lakh.

    To be eligible for the dividend payout and attendance at the AGM, shareholders must maintain their status until the book closure on 22nd Mangsir 2080.

  • Himalayan Reinsurance Limited Announces IPO for 2.49 Million Units with Robust Promoter Support

    Himalayan Reinsurance Limited Announces IPO for 2.49 Million Units with Robust Promoter Support


    Himalayan Reinsurance Limited is set to launch its initial public offering (IPO) with the issuance of 2,49,00,000 unit shares starting from 27th Mangsir, 2080. The early closing date for this IPO is on the 1st Poush, with the possibility of extension up to the 11th Poush, 2080, if the subscription is not fully met. Out of the total 3,00,00,000 units, 10% (30,00,000 units) have been allocated to Nepalese citizens working abroad, 2% (6,00,000 units) for the company’s employees, and 5% (15,00,000 units) for mutual funds. The remaining 2,49,00,000 units are reserved for the general public, priced at Rs. 206 per share (Rs. 100 face value + Rs. 106 premium).

    NMB Capital Limited is designated as the issue manager, and interested investors can apply for a minimum of 10 units and a maximum of 3,00,000 units. ICRA Nepal has affirmed an issuer rating of [ICRANP-IR] A- to Himalayan Reinsurance Limited, indicating a satisfactory level of safety in terms of timely financial obligation servicing, signifying a low credit risk.

    Himalayan Reinsurance Limited, established in 2021, is Nepal’s second reinsurance company and operates in both the Life and Non-Life insurance sectors. The company’s IPO involves prominent promoters, including Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, and other influential business entities. The IPO represents a significant milestone for the company and provides an opportunity for the public to participate in its growth.

     

  • Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target

    Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target


    Nabil Bank Limited (NABIL) has issued an offer letter announcing the issuance of 30,00,000 units of “9% Nabil Debenture 2087” to the general public. The debentures, featuring a maturity period of 7 years and a coupon rate of 9%, will be open for subscription from the 29th of Mangsir to the 3rd of Poush, 2080. In the event of undersubscription, the deadline may be extended until the 13th of Poush, 2080.

    The debentures, valued at Rs. 1000 per unit, will have a total issuance of 30 lakh units. Of this, 60%, equivalent to 18 lakh units, will be subscribed through private placement. The remaining 12 lakh units, amounting to Rs. 1.2 Arba, will be available for public issuance, with 5% of this allocation reserved for mutual funds. The total proceeds from the issuance are expected to reach Rs. 3 Arba.

    Kumari Capital Limited has been appointed as the issue manager for this debenture offering. Interested investors can apply for a minimum of 25 units and a maximum of 12,00,000 units.

    ICRA Nepal has reconfirmed the issuer rating of [ICRANP-IR] AA- – (pronounced ICRA NP issuer rating Double A minus) for Nabil Bank Limited. This rating indicates a high level of safety concerning the timely fulfillment of financial obligations, reflecting a very low credit risk associated with the bank.

  • NEPSE Index Surges 0.63%, Registers Significant Gains with Notable Turnover

    NEPSE Index Surges 0.63%, Registers Significant Gains with Notable Turnover


    The Nepal Stock Exchange (NEPSE) Index recorded a significant increase of 11.73 points, equivalent to 0.63%, compared to the previous day’s closing, concluding at 1,852.77 points. In the preceding trading session, the index had witnessed a gain of 3.33 points.

    The day commenced with the index opening at 1840.42, marking an intraday low of 1,834.64 and reaching a peak at 1,861.22 during the course of trading.

    Throughout the day’s trading activities, a total of 299 different stocks were involved in 53,146 transactions. The trading volume reached 9,505,608 shares, leading to a total turnover of Rs. 2.79 Arba. The overall market capitalization was reported at Rs. 28.56 Kharba, with a float market capitalization of Rs. 9.96 Kharba.

    The stock with the highest turnover was Nepal Reinsurance Company Limited Promoter Share (NRICP), reaching a notable Rs. 86.83 crores.

    Among individual stocks, Trishuli Jal Vidhyut Company Limited (TVCL) demonstrated the highest gain at 10%, closely followed by Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) with a gain of 9.97%.

    However, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) experienced the most substantial loss, declining by 7.81% during the day.

    In terms of sector indices, with the exception of the “Trading Index,” all other sector indices concluded in positive territory. The “Non-Life Insurance Index” emerged as the top gainer, registering a gain of 2.11%. Conversely, the “Trading Index” witnessed a loss of 0.50%.

  • “Nepal Insurance Company Announces 75th AGM with Dividend Approval and Key Agenda Items”

    “Nepal Insurance Company Announces 75th AGM with Dividend Approval and Key Agenda Items”


    Nepal Insurance Company Limited (NICL) has scheduled its 75th Annual General Meeting (AGM) to take place on the 13th of Poush, 2080. The venue for the meeting is set at Nepal Pragya Pratisthan, Kamaladi, Kathmandu, with proceedings commencing at 11 am.

    Among the various items on the agenda, the AGM will seek approval for a 10.5263% dividend for the fiscal year 2079/80. The decision to distribute this dividend was made during the 8th meeting of the board of directors held on Mangsir 9, 2080. The proposed dividend includes a 0.5263% cash dividend amounting to Rs. 78.67 lakhs and a 10% bonus shares allocation valued at Rs. 14.94 Crores. As of the latest available data, the existing paid-up capital of NICL stands at Rs. 1.49 Arba.

    Additionally, the AGM will cover agendas such as the endorsement of the auditor’s report, inclusive of profit and loss statements, financial reports, and cash flow reports. The meeting will also address the appointment of an auditor for the fiscal year 2080/81 and seek approval for the appointment of directors.

    The book closure date for the AGM is set on Mangsir 28. Shareholders holding positions before this date are entitled to the dividend payout and are eligible to participate in the AGM.

  • Nepal Warehousing Company IPO Allotment Records Overwhelming Response and Substantial Oversubscription

    Nepal Warehousing Company IPO Allotment Records Overwhelming Response and Substantial Oversubscription


    The IPO allotment for Nepal Warehousing Company Limited concluded today at the headquarters of the issue manager, Himalayan Capital Limited, located in Kathmandu.

    Nepal Warehousing Company Limited had issued 11,41,250 units of IPO shares at a par value of Rs. 100 to the general public from the 10th to the 13th of Mangsir, 2080. Out of the total 13,75,000 units offered, 10% (1,37,500 units) were allocated to Nepalese citizens working abroad, 2% (27,500 units) were set aside for the company’s employees, and 5% (68,750 units) were designated for mutual funds. The remaining 11,41,250 units were made available for the general public.

    The IPO garnered substantial interest, receiving applications from 11,91,988 valid applicants who collectively applied for 1,26,56,720 units. The oversubscription rate exceeded 11.09 times. In the allotment process, 1,14,125 applicants were allotted 10 units each through a lottery system, while the remaining 10,77,863 applicants did not receive any allotment. Mutual funds were allotted 68,750 units, and 27,500 units were allocated to the company’s employees. However, 3,661 applicants who applied for 48,730 units were disqualified.

    The IPO result can be accessed through platforms such as CDSC IPO Result, MeroShare, and Himalayan Capital Limited.

    ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- to Nepal Warehousing Company Limited, indicating a moderate risk of default concerning the timely servicing of financial obligations.

    Nepal Warehousing Company was established under the Company Act, 2063 of Nepal, with the primary objective of addressing the warehousing needs of farmers, traders, millers, and businessmen involved in grain trade for commercial and industrial purposes. The company aims to mitigate post-harvest losses, maintain product quality, and provide a suitable environment for long-term grain storage. To achieve this, the company has installed high-quality silos with a capacity of 55,000 MT at three different locations in provinces 1, 2, and Lumbini.

  • Gold Prices in Nepal Decline by Rs. 800 per Tola as Global Market Faces Slump

    Gold Prices in Nepal Decline by Rs. 800 per Tola as Global Market Faces Slump


    The price of gold has observed a decline of Rs. 800 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The current value of fine gold is reported at Rs. 1,18,400 per tola, representing a decrease from its stable position the previous day at Rs. 1,19,200 per tola. Simultaneously, Tejabi gold is being traded at Rs. 1,17,850 today, reflecting a reduction of Rs. 800 per tola from its previous rate of Rs. 1,18,650 per tola.

    Contrasting the recent decrease, on December 4, 2023, fine gold had achieved a historic high of Rs. 1,21,600 per tola, and Tejabi gold had surged to Rs. 1,21,000, marking a record at that time.

    Furthermore, silver has also witnessed a decrease of Rs. 20 per tola, with the current market rate standing at Rs. 1,480 per tola, compared to its closing rate of Rs. 1,500 per tola the day before.

    The global decline in gold prices, now at $2,020.50 per ounce, has had a notable impact on the domestic bullion market. Concurrently, silver is being traded at $24.20 per ounce on the international market.

  • NEPSE Index Rebounds with a 0.18% Gain After Previous Session’s Decline

    NEPSE Index Rebounds with a 0.18% Gain After Previous Session’s Decline


    The Nepal Stock Exchange (NEPSE) Index closed with a gain of 3.33 points, equivalent to 0.18%, compared to the previous day’s closing, settling at 1,841.04 points. This follows a loss of 10.10 points recorded in the preceding trading session.

    The trading day commenced with the index opening at 1837.24, hitting an intraday low of 1,830.31, and reaching an intraday high of 1,841.80.

    Throughout today’s trading, 293 different stocks were exchanged in 34,971 transactions. The volume of shares traded amounted to 3,755,124, leading to a total turnover of Rs. 1.14 Arba. The market capitalization stood at Rs. 28.38 Kharba, with a float market capitalization of Rs. 9.90 Kharba.

    Reliable Nepal Life Insurance Limited (RNLI) recorded the highest turnover, reaching Rs. 73.44 crores, and closed at a market price of Rs. 488.10.

    Similarly, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) exhibited the highest gain of 10%, followed by Vijaya Laghubitta Bittiya Sanstha Ltd. (VLBS) with a gain of 8.07%.

    Conversely, Singati Hydro Energy Limited (SHEL) faced the highest loss of 9.13% during today’s trading.

    Regarding sector indices, 5 sector indices concluded in negative territory, with the Manufacturing and Processing index registering the most significant loss at 0.70%. Meanwhile, the Life Insurance Index recorded the highest gain, increasing by 1.21 percent.

  • Muktinath Krishi Company IPO Allotment Concludes with Overwhelming Response and Significant Oversubscription

    Muktinath Krishi Company IPO Allotment Concludes with Overwhelming Response and Significant Oversubscription


    The IPO allotment of Muktinath Krishi Company Limited was successfully concluded today at the headquarters of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

    Muktinath Krishi Company Limited had offered 11,48,000 units of IPO shares at a par value of Rs. 100 to the general public from the 8th to the 12th of Mangsir, 2080. Out of the total 14,00,000 units, 10% (1,40,000 units) were allocated to Nepalese citizens working abroad, 3% (42,000 units) were reserved for the company’s employees, and 5% (70,000 units) were set aside for mutual funds. The remaining 11,48,000 units were made available for the general public.

    The IPO garnered significant interest, receiving applications from 12,74,567 valid applicants who collectively applied for 1,36,04,910 units. The oversubscription rate exceeded 11.85 times. In the allotment process, 1,14,800 applicants were allotted 10 units each through a lottery system, while the remaining 11,59,767 applicants did not receive any allotment. Mutual funds were allotted 70,000 units, and 42,000 units were allocated to the company’s employees. However, 4,300 applicants who applied for 59,880 units were disqualified.

    The IPO result can be accessed through platforms such as CDSC IPO Result, MeroShare, and NIMB Ace Capital Limited.

    ICRA Nepal has reaffirmed Muktinath Krishi Company Limited’s issuer rating at [ICRANP-IR] BB-, indicating a moderate risk of default regarding the timely servicing of financial obligations. Muktinath Krishi Company is affiliated with Muktinath Bikash Bank, established in 2075 as the first public agricultural company. The company aims to play a managerial role in the agricultural value chain, contributing to Nepal’s agricultural economy through campaigns like “Krishak sanga Muktinath” and “Upabhoktaa sanga Muktinath.” The company operates in over 70 districts, maintaining more than 200 distribution channels and Agricultural Resource Centers.

  • Gold Prices in Nepal Experience a Significant Drop of Rs. 2,400 per Tola

    Gold Prices in Nepal Experience a Significant Drop of Rs. 2,400 per Tola


    The price of gold has witnessed a notable decrease of Rs. 2,400 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The current value of fine gold is recorded at Rs. 1,19,200 per tola, representing a decline from its previous day’s stable position at Rs. 1,21,600 per tola. Similarly, Tejabi gold is being traded at Rs. 1,18,650 today, reflecting a decrease of Rs. 2,350 per tola from its yesterday’s rate of Rs. 1,21,000 per tola.

    In contrast to the recent decrease, just a day before, on December 4, 2023, fine gold had achieved a historic high of Rs. 1,21,600 per tola, and Tejabi gold had surged to Rs. 1,21,000, setting a record at that time.

    Additionally, silver has also seen a decline of Rs. 45 per tola, with the current market rate standing at Rs. 1,500 per tola, compared to its closing rate of Rs. 1,545 per tola the day before.

    The global decline in gold prices, currently at $2,031.90 per ounce, has had a significant impact on the domestic bullion market. Simultaneously, silver is being traded at $24.50 per ounce on the international market.

  • Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited

    Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited


    Prabhu Insurance Limited has initiated an auction for 19,79,424 units of promoter shares belonging to Nepal Reinsurance Company Limited (NRIC). The auction period is set to run from the 19th to the 26th of Mangsir, 2080.

    During this auction, the specified 19,79,424 units of promoter shares of Nepal Reinsurance Company Limited will be available for bidding. Interested promoter shareholders or institutions are invited to participate, with a minimum bid rate of Rs. 280. The bidding parameters for promoters’ shares include a minimum bid quantity of 10,00,000 units and a maximum bid quantity of 19,79,424 units.

    Prabhu Capital Limited is overseeing the auction process as the auction manager. At the time of this report, Nepal Reinsurance Company Limited (NRIC) has a Last Traded Price (LTP) of Rs. 610.