Tag: converted

  • Himalayan Laghubitta Bittiya Sanstha (HLBSL) Alters Ownership Structure with Conversion of Promoter Shares to Public Shares

    Himalayan Laghubitta Bittiya Sanstha (HLBSL) Alters Ownership Structure with Conversion of Promoter Shares to Public Shares


    A significant development has occurred with Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL), where 287,836 units of the company’s promoter shares have recently been transformed into public shares. This transformation has altered the ownership structure of HLBSL, resulting in a new ratio of 51% promoter shares to 49% public shares.

    To provide a clearer picture of the company’s shareholding, HLBSL currently has a total of 3,198,182 units of shares listed on the Nepal Stock Exchange (NEPSE). Prior to this change, the share distribution was such that the promoters held 60% of the company’s shares, equivalent to 1,918,909 units, while the remaining 40% was in the hands of the public, amounting to 1,279,273 units. Following the recent conversion, the ownership structure now consists of 51% promoter shares, totaling 1,631,073 units, and 49% public shares, totaling 1,567,109 units.

    As of the last reported data, HLBSL’s closing stock price stood at Rs. 616 on the previous Wednesday.

  • “176,402 Promoter Shares of MLBBL Converted to Public Shares, Changing Ratio to 51:49”

    “176,402 Promoter Shares of MLBBL Converted to Public Shares, Changing Ratio to 51:49”


     

    Mithila Laghubitta Bittiya Sanstha Limited (MLBBL) has changed its ownership structure by converting 176,402 promoter shares into public shares. This adjustment has shifted the ownership ratio from 60:40 to 51:49, with promoters now holding 51% of the company’s shares, and the public holding 49%. Currently, MLBBL has a total of 1,960,028 shares listed on the Nepal Stock Exchange (NEPSE). The company’s recent closing price was Rs. 830.

     

  • “Mithila Laghubitta Converts 9% of Promoter Shares to Public Share”

    “Mithila Laghubitta Converts 9% of Promoter Shares to Public Share”


     

    Mithila Laghubitta Bittiya Sanstha Limited (MLBBL) has announced a change in the proportion of shares held by the company’s promoters and the public. The previous ratio of 60% held by promoters and 40% held by the public will be adjusted to 51% for promoters and 49% for the public. The company has requested shareholders who do not wish to convert their founder shares into public shares to submit a self-declaration within seven days from the publication date of the notice. The declaration should be made at the company’s corporate office located in Mithila Municipality-5, Dhalkewar, Dhanusha.

  • Ajod Insurance Limited Converts Promoter Shares to Public Shares, Achieving 51:49 Ownership Ratio

    Ajod Insurance Limited Converts Promoter Shares to Public Shares, Achieving 51:49 Ownership Ratio


    Ajod Insurance Limited (AIL) has recently converted 19,00,000 units of promoter shares into public shares, resulting in a change in the company’s shareholding structure. Previously, the company had 70% of its shares held by promoters and 30% held by the public. However, with this conversion, the promoter-to-public shares ratio has shifted to 51:49.

    AIL, which currently has 1 crore unit shares listed on the Nepal Stock Exchange (NEPSE), has made this strategic move to increase the public’s ownership in the company. By converting a portion of the promoter shares, AIL aims to promote wider shareholder participation and enhance the overall transparency and governance of the company.

    As of the last trading day, AIL’s Last Traded Price (LTP) stood at Rs. 468. This price reflects the market value of AIL’s shares at that particular time. With the conversion of promoter shares into public shares, the market dynamics and investor sentiment surrounding AIL may be influenced. The shift to a 51% promoter and 49% public shareholding structure could potentially have an impact on the trading behavior and valuation of the company’s shares.

    This conversion signifies AIL’s commitment to a more balanced and inclusive ownership structure, where the public shareholders have a significant stake in the company’s future growth and profitability. It also highlights the company’s efforts to align with regulatory requirements and promote fair market practices in the insurance industry.

  • PLIC and ULI Promoter Shares Converted; Promoter-Public Shareholding Ratio Changed To 51: 49

    PLIC and ULI Promoter Shares Converted; Promoter-Public Shareholding Ratio Changed To 51: 49


     

    Prime Life Insurance Company Limited (PLIC) unit promoter shares have been converted to ordinary shares, bringing the company’s promoter-to-public share ratio to 51: 49.

    The company currently has 3,14,09,657 unit shares listed on NEPSE.Similarly, the shareholding structure of 60% promoters and 40% public has been altered to 51% promoter shares and 49% public shares.

     

  • What Rawa Energy Development Prospective Investors Should Know

    What Rawa Energy Development Prospective Investors Should Know


     

    Rawa Energy Development Ltd is a public limited company that was founded as a private limited company on August 16, 2009 and later converted to a public limited company on June 28, 2019. It is promoted by businesspeople with extensive experience in hydropower and other sectors for the establishment of Hydroelectric Projects (HEP) in Nepal. In Khotang District, the company operates a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP), which has been in commercial operation since September 20, 2020. The project is being built using the BOOT (Build, Own, Operate, and Transfer) model.

  • 9% of the promoter shares of Prime Life Insurance Company are converted into public shares.

    9% of the promoter shares of Prime Life Insurance Company are converted into public shares.


     

    Prime Life Insurance Company Limited (PLIC) has announced a change in its promoter to public shareholding ratio.

    On the 24th Poush, 2079, the company held its 15th AGM. The AGM approved the board’s proposal to change the promoter/public share ratio of the company from 60:40 to 51:49. The company has now informed that if any of the shareholders are unwilling to convert their ownership of the founder shares into a public group, they should make a self-declaration to the company’s corporate office in Hattisar, Kathmandu, within 7 days of the date of publication of this notice.

  • IPO of Bhugol Energy Development Company Opens From Today For Project-Affected Locals and Nepalese Employed Abroad

    IPO of Bhugol Energy Development Company Opens From Today For Project-Affected Locals and Nepalese Employed Abroad


     

    Bhugol Energy Development Company Limited was formed as a private limited company on February 16, 2009, and was later converted to a public limited company on October 31, 2017, to allow for public participation. The company operates the 3.75-MW Dwari Khola Small Hydropower Project in Nepal’s Dailekh District, Karnali Province. The project began commercial operations on May 6, 2017, ahead of the required COD of June 30, 2017, and was built at a total cost of NPR 734 million (NPR 196 million per MW) with an initial debt-to-equity ratio of 82:18.

  • Is cryptocurrency legal in Nepal?

    Is cryptocurrency legal in Nepal?


    So far, cryptocurrencies are illegal in a few countries, whereas the rest of the world either sees it as fitting to utilise these ‘monies’, or keeps them in a grey area of financial law. Similarly, though most countries in the world do not criminalise cryptocurrencies, they have yet to define their usage as monies or commodities, thus making varied classifications all over the world.

    Is cryptocurrency legal in Nepal? 10

    Nepal Rastra Bank has already made it clear in its notice dated August 13, 2017, that all transactions related to or regarding Bitcoins are illegal. But it allied Bitcoins to “Foreign Exchanges”, though cryptocurrencies have no foreign central authority to regulate them. This is where the confusion is. Bitcoin is a decentralised digital currency that is traded from one individual to the other, not through banks. It has no issuing or regulating country, and these bitcoins are converted into US dollars simply because dollars are used as an international exchange rate.