Tag: have

  • SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.

    SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.


    The Securities Board of Nepal (SEBON) has initiated the process of granting new licenses for stock brokers and dealers. Following the revision of the Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064, SEBON announced a 30-day deadline for accepting applications for new licenses. As a result, 45 companies applied for stock broker licenses and one company applied for a stock dealer license.

    Recently, SEBON issued Letters of Intent (LOI) to 13 new broker companies that had applied for licenses. Earlier, at a board of directors meeting, 16 companies had already received LOIs. So far, 29 companies that have applied for broker licenses have received LOIs from SEBON.

    Once a new broker company receives a letter of intent from SEBON, it is required to set up its infrastructure according to the board-established standards. Following infrastructure preparation, SEBON will monitor the company to ensure that all requirements are met. If all requirements are met during monitoring, the company will be granted a license.

  • Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public

    Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public


    Citizens Capital Limited has announced the closure of its mutual fund scheme, “Citizens Super 30 Mutual Fund”, to the general public from 20th Baisakh, 2080. The issue was opened on the 6th of Baisakh and was supposed to close on the 10th of Baisakh, 2080. However, as the issue manager didn’t receive enough applications, the issue was extended until the 20th of Baisakh.

    Out of a total of 10 crore unit shares, 1.50 crore units worth Rs. 15 crores have been allocated to the fund promoter, Citizens Bank International Limited, while the remaining 8.5 crore units are for the general public. The fund will be traded in the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants can apply for a minimum of 100 units and a maximum of 10,000,000 units.

    According to the CDSC, a total of 15,683 applicants have applied for 47,295,800 units worth Rs. 47.29 crore so far. This indicates a good response to the scheme, even though the issue was extended due to insufficient applications.

    Citizens Capital Limited currently manages two closed-end funds in the market, Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2). The closure of the Citizens Super 30 Mutual Fund scheme is expected to be beneficial for investors looking to invest in a diversified portfolio and achieve long-term financial goals.

  • Gold Prices Reach Near All-Time High in Nepalese Market

    Gold Prices Reach Near All-Time High in Nepalese Market


    Gold prices are on the rise in the Nepalese market once again. Today, fine gold gained Rs. 1800 per tola while tejabi gold rose by Rs. 1750 per tola from yesterday’s price. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is being traded today at Rs. 110,600 per tola, while tejabi gold is being traded at Rs. 110,050 per tola.

    This increase in gold prices comes after the precious metal reached an all-time high in the Nepalese market on 5th April 2023, with fine gold trading at Rs. 111,000 per tola and tejabi gold trading at Rs. 110,450 per tola. Currently, the international price of gold is at USD $2,015.60 per ounce, with silver being traded at $25.24 per ounce.

    On the other hand, silver prices have also risen in the Nepalese market, gaining Rs. 20 per tola. The white metal is being traded today at Rs. 1,425 per tola compared to yesterday’s closing rate of Rs. 1,405 per tola.

    The increase in gold prices can be attributed to various global factors such as inflation fears, economic uncertainties, and geopolitical tensions. In August 2020, gold reached an all-time high of $2074.88 per ounce in the international market, further highlighting its significance as a safe-haven asset. Despite the fluctuation in gold prices, it remains an attractive investment option for many people, especially during times of economic volatility.

  • “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”

    “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”


     

    Ingwa Hydropower Limited has announced the closure of its IPO issuance of 12,68,639 unit shares with a face value of Rs. 100 per share. The issue, which opened on April 13, 2080, is oversubscribed by 8.64 times, with 994,624 applicants applying for a total of 10,964,750 units. The company intends to collect Rs. 12.68 crore from this IPO, with 70% of the shares belonging to promoter shareholders.

    Before this issuance, the company had allotted 306,840 units of its 6,00,000 unit shares worth Rs. 6 crores to project-affected locals in Taplejung District, with the remaining 293,160 units added to the 12,00,000 units reserved for the general public. Out of the total 14,93,160 units available to the general public, 120,000 units have already been allotted to Nepalese citizens working abroad, while 5% and 2% have been set aside for mutual funds and employees of the company, respectively. The remaining 12,68,639 units are for the general public, with a minimum application of 10 units and a maximum of 20,000 units.

    The IPO issuance is managed by Sunrise Capital Limited, while CARE Ratings Nepal Limited has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Ingwa Hydropower Limited, indicating a moderate risk of default regarding timely servicing of financial obligations in Nepal. The company was incorporated on June 23, 2009, as a private limited company and was later converted into a public limited company on August 25, 2014. The company’s institutional promoters and individual businessmen in Nepal have promoted it to set up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project under the BOOT mechanism in the Panchthar district of Nepal.

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  • “Ankhukhola Hydropower Sales Revenue Drops by 11.09% to Rs. 15.4 Crores, Net Worth Per Share Falls Below Par Value at Rs. 71.25”

    “Ankhukhola Hydropower Sales Revenue Drops by 11.09% to Rs. 15.4 Crores, Net Worth Per Share Falls Below Par Value at Rs. 71.25”


     

    Ankhukhola Hydropower Company Limited (AKJCL) has released their Q3 financial report for the FY 2079/80, revealing a significant decrease of 71.59% in net profit compared to the same quarter in the previous year, with the current net profit standing at Rs. 86.52 Lakhs. Total revenue up to the third quarter of FY 2079/079 has also decreased by 11.09% to Rs. 15.4 crores. However, AKJCL will receive a grant of Rs. 4.62 crore from the Nepalese government for the installation of Ankhu Khola-1, which has not yet been included in their revenue. Additionally, the company has signed an agreement to invest 60% in Ganesh Himal Hydropower’s 20 M.W. Ankhu Khola-2 Hydropower project. The administrative and general expenses have increased by 18.37%, while the finance expenses have decreased by 7.26%. The paid-up capital of the company stands at Rs. 80 crore with a negative reserve of Rs. 23 crore in reserve fund, and the company reported an annualized EPS of Rs. 1.44 and net worth per share of Rs. 71.25.

  • Global IME Balanced Fund 1 and Mega Mutual Fund 1 Release Last Month’s NAV Report

    Global IME Balanced Fund 1 and Mega Mutual Fund 1 Release Last Month’s NAV Report


     

    The “Global IME Balanced Fund – 1 (GIBF1)” NAV report for Chaitra has been released.

    The “Global IME Balanced Fund – 1” is a closed-end fund with a 10-year maturity horizon. The fund size of Global IME Balanced Fund – 1 is Rs. 1.02 Arba.

     

  • Citizens Mutual Fund 1 Reports NAV and Net Profit Increase in Chaitra

    Citizens Mutual Fund 1 Reports NAV and Net Profit Increase in Chaitra


    Citizens Mutual Fund-1 (CMF1), a 7-year closed-end mutual fund scheme, has released its monthly report for Chaitra 2079.

    According to the report, a mutual fund’s Net Assets Value (NAV) fell slightly from Rs. 9.18 to Rs. 9.19. The program, which began with a sum of Rs. 82 crores, has invested Rs. 48.38 crores in listed company shares and Rs. 4.91 crores in non-listed company shares. This program invested Rs. 3 crores in fixed-income assets, Rs. 15.86 crores in debentures, and Rs. 3.4 crores in bank balance.

     

  • Chitwan will host the 7th Chitwan International Industrial Fair beginning on Baisakh 22.

    Chitwan will host the 7th Chitwan International Industrial Fair beginning on Baisakh 22.


     

    CNI Chitwan, in collaboration with other government and non-government organizations, will host the 7th International Chitwan Industrial Fair 2080 on Baisakh 22, 23, and 24, 2080 at the Chitwan Exhibition Hall in Bharatpur.

     

  • Bottlers Nepal (Terai) Limited Inviting Shareholders to Claim Overdue Dividend

    Bottlers Nepal (Terai) Limited Inviting Shareholders to Claim Overdue Dividend


    Bottlers Nepal (Terai) Limited (BNT) has sent a notification to stockholders who have not yet received their dividend payments.

    Even after 5 years of dividend distribution, some shareholders are still to receive their dividends from the corporation. Investors who have not claimed the dividend should show their share certificate and evidence of identification, along with copies of the appropriate papers, to the company’s share registrar Nabil Investment Banking Limited, Naxal, Kathmandu.

    Otherwise, the uncollected due dividend shall be put in the “Investor Protection Fund” under section 182 (9) of the Companies Act, 2063.

  • NEPSE listing of bonus shares of Sagarmatha Insurance Company and Lumbini General Insurance Company

    NEPSE listing of bonus shares of Sagarmatha Insurance Company and Lumbini General Insurance Company


    The NEPSE has listed 16,53,699.96 unit bonus shares of Sagarmatha Insurance Company Limited (SIC).

    On 11th Falgun, the firm held its 26th AGM and approved a 13.0579% dividend for fiscal year 2078/79. The board of directors resolved to distribute 12.40% bonus shares and 0.6526% cash dividend on Rs. 1.33 Arba paid-up capital. NEPSE now lists the same bonus shares.

    Similarly, Lumbini General Insurance Company Limited (LGIL) has 9,17,644.50 unit bonus shares listed on NEPSE.

    On 11th Falgun, the business had its 18th AGM and approved a 6.99% bonus share worth Rs. 9.17 crore and a 0.3679% cash dividend worth Rs. 48.29 crore on a paid-up capital of Rs. 1.31 Arba for the fiscal year 2078/79.

  • 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.

     

  • The deadline for life and non-life insurance companies to raise capital to Rs 5 billion has passed.

    The deadline for life and non-life insurance companies to raise capital to Rs 5 billion has passed.


    On the 10th of Chaitra 2078, the Nepal Insurance Authority directed that life insurance businesses have a minimum paid-up capital of Rs. 5 Arba. The Insurance Board also encouraged non-life insurance companies to increase their paid-up capital to Rs. 2.5 Arba by the end of Chaitra 2079.