Tag: Conduct

  • Muktinath Bikas Bank Announces 17th AGM with Dividend Approval Amidst NEPSE Trading Suspension

    Muktinath Bikas Bank Announces 17th AGM with Dividend Approval Amidst NEPSE Trading Suspension


    Muktinath Bikas Bank Limited (MNBBL) has announced its 17th Annual General Meeting (AGM) scheduled for the 28th of Poush, 2080, to be held at City Square in New Road, Pokhara, starting at 10 AM.

    Among various agenda items, the AGM is set to approve a 10.2632% dividend for the fiscal year 2079/80. This decision was made during the 311th board meeting, with the dividend to be distributed on the paid-up capital of Rs. 6.42 Arba. The proposed distribution includes 9.75% bonus shares amounting to Rs 62.60 Crores and 0.5132% cash dividend (inclusive of bonus shares for tax purposes) totaling Rs 3.29 Crores.

    Additionally, the AGM will address the endorsement of the auditor’s report, covering profit and loss statements, financial reports, and cash flow reports. An auditor for the fiscal year 2080/81 will also be appointed. Furthermore, there are agendas related to the election of directors from both the public shareholding group and the promoter shareholding group. An agenda of note involves identifying a suitable development bank for potential merger and acquisition with Muktinath Bikas Bank Limited.

    However, it’s worth mentioning that the trading of Muktinath Bikas Bank Limited (MNBBL) was suspended by NEPSE on December 22 due to a violation of NEPSE regulations. The company is required to provide an explanation to NEPSE within 3 working days regarding the breach, as it had convened a board meeting on Poush 5 during trading hours for dividend declaration.

    The book closure date is set for Poush 19, allowing shareholders holding shares before this date to be eligible for the dividend payout and to attend the AGM.

  • Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times

    Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times


    Rawa Energy Development Limited is set to conduct the IPO allotment on Tuesday, 30th Jestha, 2080. The allotment program will take place at the premises of Prabhu Capital Limited, the issue manager, located in Kamaladi, Kathmandu, at 4 pm.

    During the IPO, the company had issued a total of 643,667 unit shares with a face value of Rs 100 to the general public. Out of the overall 752,330 units available, 56,000 units were allotted to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated for the company’s employees. The remaining 643,667 units were open to the general public.

    As per data provided by CDSC (Central Depository System and Clearing Limited), the IPO received approximately 1,165,526 applications, requesting a total of 12,761,480 units of shares by the closing day. This indicates that the IPO was oversubscribed by 19.82 times in terms of the number of units applied for by ordinary applicants.

    Considering the data, it can be concluded that only 64,366 fortunate applicants will be allotted shares and become owners of the company.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating suggests that issuers with such a rating have a moderate risk of default regarding the timely servicing of financial obligations within Nepal.

  • Sabaiko Laghubitta holds its sixth annual general meeting and approves 18% bonus shares for shareholders.

    Sabaiko Laghubitta holds its sixth annual general meeting and approves 18% bonus shares for shareholders.


     

    Sabaiko Laghubitta held its 6th AGM on Falgun 26, 2079, led by company chair Mr. Narayan Prasad Joshi.

    According to the media statement, the AGM decided to approve 18% bonus shares and 0.95% cash dividends to its shareholders, as well as authorize the board to conduct any merger/acquisition work with suitable institutions.

  • Nepal Telecom – NTC 5G Trial Commences in Nepal

    Nepal Telecom – NTC 5G Trial Commences in Nepal


    Nepal Telecom (NTC), the country’s state-owned telecoms operator, has officially launched its long-awaited 5G trial to commemorate the company’s 19th anniversary. Nepal Telecom, the country’s state-owned telecom operator, had previously postponed 5G testing due to a lack of a device ecosystem. To commemorate its 19th anniversary, the telco tested its 5G cellular network in Babarmahal and Sundhara.

    Spectrum

    The network deployed in the Kathmandu districts of Sundhara and Babarmahal is using the 60 MHz spectrum in the 2600 MHz band given by the government. The 2600 MHz band provides a good balance of speed and coverage. According to a Nepalitelecom report, the trials are not available to the public and are conducted internally.

    The initial trials, which were supposed to begin in January 2023, have already begun one month later than projected. Nepal Telecom’s July 2021 trials were canceled when a change in administration hindered the requisite spectrum allocation.

    Sunil Paudel, MD of Nepal Telecom (NTC), has formally declared the launch of the long-awaited 5G experiment. However, no official launch date for 5G has been announced, however, officials have stated that it “should launch shortly.” Managing Director Sunil Paudel noted in a progress update on the company’s planned 5G rollout that Nepal Telecom (NT) has yet to evaluate the capabilities of its present mobile infrastructure to handle commercial 5G services in the future.

    Non-Standalone 5G (NSA)

    Nepal Telecom Corporation (NTC) will begin its 5G testing using Non-standalone (NSA) architecture and subsequently advance to Standalone architecture (SA). By changing the basic software, the NSA allows the operator to launch its 5G network on its existing 4G LTE infrastructure. The business has already developed two 5G-ready sites in Babarmahal and Sundhara. NTC is now testing available 5G devices on the network in Babarmahal and Sundhara, having installed the essential equipment at both locations.