Tag: Limited

  • Akama Hotel Schedules SGM to Issue IPO at Rs. 50

    Akama Hotel Schedules SGM to Issue IPO at Rs. 50


     

    Akama Hotel Limited has scheduled a Special General Meeting (SGM) for the 14th of Falgun, 2080. The meeting will take place at the company’s registered office located in Akama Hotel, Dhumbarahi, Kathmandu, starting at 11:30 AM.

    One of the key agendas for the meeting is to propose issuing an Initial Public Offering (IPO) to the general public, along with increasing the authorized, issued, and paid-up capital of the company. Additionally, there will be a discussion regarding splitting the existing face value of 100 rupees into 50 rupees, as well as revising the articles of association and regulations. Another agenda is to determine the remuneration, allowances, and facilities for the directors.

  • Ridi Power Company Limited (RIDI) Announces Book Closure Date for 50% Right Shares, Valued at Rs. 77.44 Crores

    Ridi Power Company Limited (RIDI) Announces Book Closure Date for 50% Right Shares, Valued at Rs. 77.44 Crores


    Ridi Power Company Limited (RIDI) has disclosed the book closure date for its upcoming 50% right shares, set for the 22nd of Magh, 2080. Shareholders holding shares until Magh 21 will be eligible for the rights offering.

    The company is set to issue 50% right shares valued at Rs. 77.44 Crores, involving the issuance of 7,744,506 (1:0.50) units of right shares to its existing shareholders. With the current paid-up capital standing at Rs. 1.54 Arba, the proposed right share, totaling 77.44 lakhs units, will elevate the company’s paid-up capital to Rs. 2.32 Arba.

    Muktinath Capital Limited has been appointed as the issue manager for this process, overseeing the administration and execution of the right share issuance.

    As of the latest information, RIDI is currently trading at an Last Traded Price (LTP) of Rs. 292.00.

  • Last Trading Day for Himalayan Everest Insurance Dividend – Act Now!

    Last Trading Day for Himalayan Everest Insurance Dividend – Act Now!


    Investors of Himalayan Everest Insurance Limited (HEI) are urged to seize the opportunity as today marks the final day to avail the enticing 15% dividend proposed by the company. The decision was reached during the 317th board of directors meeting on Poush 25, where it was resolved to distribute dividends based on the paid-up capital of Rs. 2.30 Arba.

    In this generous dividend offering, HEI is proposing an 8.63% bonus in the form of shares, amounting to Rs. 19.86 crore, along with an additional 6.37% cash dividend, inclusive of tax, totaling Rs. 14.66 crore. This announcement follows the company’s commitment to rewarding its shareholders for their continued support and investment in the organization.

    Furthermore, HEI has called for its 30th Annual General Meeting (AGM) scheduled for 25th Magh, 2080, at Baneshwor Banquet, Thapagaun, commencing at 11 AM. This AGM serves as a crucial platform for stakeholders to gain insights into the company’s performance, future plans, and financial outlook. Investors attending the meeting will have the opportunity to actively participate in discussions that shape the trajectory of Himalayan Everest Insurance Limited.

     

  • Sanima GIC Insurance Limited: No Dividend Declared for FY 2079/80

    Sanima GIC Insurance Limited: No Dividend Declared for FY 2079/80


     

    Sanima GIC Insurance Limited (SGIC) has recently announced its decision to refrain from distributing dividends for the Fiscal Year 2079/80. The resolution was reached during the 134th Board Meeting of SGIC, held on Magh 10, 2080. The decision not to distribute dividends stems from a careful consideration of various factors and aligns with the company’s strategic approach to financial management. It’s crucial to highlight that this decision is subject to the approval of the financial statements by the regulatory authority, Nepal Insurance Authority. The move underscores SGIC’s commitment to responsible financial practices, ensuring that shareholder interests are in sync with the prevailing economic conditions and regulatory requirements. Investors and stakeholders will be keenly watching for further insights during the regulatory approval process to gain a comprehensive understanding of SGIC’s financial standing and its future direction.

     

  • Prabhu Bank (PRVU) Decides Against Dividend Distribution for FY 2079/80

    Prabhu Bank (PRVU) Decides Against Dividend Distribution for FY 2079/80


    Prabhu Bank Limited (PRVU) has declared that it will not be issuing any dividends for the Fiscal Year 2079/80. The decision was reached during the Board Meeting held on Magh 08, 2080. It is important to note that the distribution of dividends is contingent upon the approval of the financial statements by Nepal Rastra Bank and the subsequent Annual General Meeting of the company.

    As of the latest available information, PRVU closed at Rs. 159.90 yesterday. The decision to forgo dividends suggests a strategic choice by the bank, and investors will await further details during the Annual General Meeting for a comprehensive understanding of the financial position and considerations behind this decision.

  • Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge

    Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge


    Citizens Bank International Limited (CZBIL) has disclosed its financial performance for the second quarter of fiscal year 2080/81, revealing a 6.96% decline in net profit to Rs 78.27 Crores. The bank’s total paid-up capital is reported at Rs. 14.20 Arba, with reserves amounting to Rs. 6.77 Arba. However, retained earnings have recorded a negative value of Rs 21.3 Crores.

    During the mentioned quarter, the bank experienced a significant increase in total deposits, reaching Rs 1.75 Kharba, while loans and advances to customers reached Rs 1.48 Kharba. Despite a marginal 0.21% decrease, the Net Interest Income remained substantial at Rs. 2.83 Arba. However, the bank faced challenges with personnel expenses amounting to Rs. 93.01 Crores and impairment charges of Rs. 85.95 Crores.

    In terms of financial metrics, the second quarter reported an annualized EPS of Rs 11.02, and the net worth per share stood at Rs 146.20. However, CZBIL grapples with a spike in Non-Performing Loans (NPL) to 4.07%. Additionally, the revelation of a negative distributable profit of Rs. 21.30 Crores adds a significant dimension to CZBIL’s financial narrative during this period.

    Examining specific figures, the paid-up capital remained constant at Rs. 14,200,974.01, and reserves witnessed a 14.52% increase to 6,774,208.15. Deposits showed a notable 4.13% rise to Rs 175,808,073.73, while loans and advances increased by 6.06% to Rs 148,304,167.36. Net Interest Income experienced a marginal decrease of 0.21% but remained substantial at Rs. 2.83 Arba. Personnel expenses and impairment charges were reported at Rs. 930.18 Crores and Rs. 859.50 Crores, respectively.

    The operating profit for the quarter was Rs 1,086,454.06, reflecting an 8.85% decrease, and the net profit stood at Rs 782,784.84, representing a 6.96% decline. Furthermore, the disclosure of a negative distributable profit of Rs. 21.30 Crores underscores the financial challenges faced by CZBIL. The capital adequacy ratio is reported at 13.00%, showing an increase from the previous year. The Cost of Fund decreased by 15.73% to 7.77%. The NPL percentage increased significantly by 36.12%, reaching 4.07%. The Qtr end PE Ratio stands at 15.61 times, and the Qtr End Market Price is reported at 172.1.

  • National Laghubitta Bittiya Sanstha Limited Initiates Auction of 63,242 Shares to General Public

    National Laghubitta Bittiya Sanstha Limited Initiates Auction of 63,242 Shares to General Public


    The current promoters of National Laghubitta Bittiya Sanstha Limited (NMFBS) have initiated the auction of 63,242 units of shares to the general public, starting from the 4th of Magh, 2080.

    Individuals interested in acquiring these shares are invited to participate in the auction, with a deadline of 10 days from the publication date of this notice, which is also the 4th of Magh, 2080.

    Prospective shareholders must submit their bids at the bank’s central office situated in Banepa-10, Kavrepalanchok. Initially, the shares were offered for auction exclusively to existing promoter shareholders. However, as no bids were received within the specified timeframe, the shares are now available for auction to the general public.

    As of the latest update, NMFBS concluded at Rs. 1,214.00 in the previous trading session. Meanwhile, NMFBSP is reported to have a Last Traded Price (LTP) of Rs. 1,115.00 as of January 25, 2023.

  • Sanima Bank Lists 1,12,14,103.55 Units of Bonus Shares on NEPSE

    Sanima Bank Lists 1,12,14,103.55 Units of Bonus Shares on NEPSE


    Sanima Bank Limited (SANIMA) has successfully listed 1,12,14,103.55 units of bonus shares on the Nepal Stock Exchange (NEPSE). This follows the company’s 19th Annual General Meeting (AGM) held on 2nd Kartik, 2080, where a dividend of 14.7% for the fiscal year 2079/80 was endorsed. The proposed dividend included 9% bonus shares and a 5.7% cash dividend, calculated from the paid-up capital of Rs. 12.46 Arba.

    The bonus shares, as approved during the AGM, are now officially listed on NEPSE, allowing shareholders to trade and realize the benefits of the bonus issuance. Sanima Bank’s closing price on the stock exchange was Rs. 249.00 as of the last trading session.

    This listing marks a significant development for Sanima Bank, providing additional liquidity and value for its shareholders as they gain access to the newly listed bonus shares on the stock market.

  • SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion

    SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion


    “The Securities Board of Nepal (SEBON) has given the green light to the rights offering proposals of two hydropower companies, Ridi Power Company Limited (RIDI) and Arun Valley Hydropower Development Company Limited (AHPC). Ridi Power Company plans to issue 50% right shares, totaling Rs. 77.44 Crores, equivalent to 7,744,506 units, to its existing shareholders. This move aims to fund the investment in the Tallo Balephi hydropower project of Sajha Power Development Company. The company’s current paid-up capital of Rs. 1.54 Arba will increase to Rs. 2.32 Arba after the adjustment of the proposed right shares. Muktinath Capital Limited will serve as the issue manager. As of the latest update, RIDI’s closing share price is Rs. 221.00.

    Similarly, Arun Valley Hydropower Development Company is set to issue 100% right shares, amounting to Rs. 1.86 Arba or 18,679,626 units, to its existing shareholders. This move is intended to finance investments in the Likhu Khola Hydropower Project and repay loans associated with the Kabeli ‘B’-1 Cascade Hydropower Project. After the adjustment, the company’s paid-up capital will rise from Rs. 1.86 Arba to Rs. 3.72 Arba. Muktinath Capital Limited is appointed as the issue manager for AHPC. The current closing share price for AHPC is Rs. 236.60.”

  • Auction Alert: Multipurpose Finance Company Limited Promoters Offer 56,000 Units of Shares to Eligible Shareholders

    Auction Alert: Multipurpose Finance Company Limited Promoters Offer 56,000 Units of Shares to Eligible Shareholders


    Bijaya Kumar Thakur and Dhirendra Thakur, the current promoters of Multipurpose Finance Company Limited (MPFL), have initiated the auction of their promoter shares. Specifically, Bijaya Kumar Thakur is auctioning 26,000 units, while Dhirendra Thakur is auctioning 30,000 units of their respective shares. This auction, which began on the 18th of Poush, 2080, is exclusively open to existing promoter shareholders.

    A total of 56,000 units of promoter shares are up for auction, and only those shareholders who meet the eligibility criteria are encouraged to participate. The auction period spans 15 days from the date of this notice’s publication.

    As of the latest information, the Last Traded Price (LTP) for MPFL stands at Rs. 320. Simultaneously, MPFLPO, another financial instrument associated with Multipurpose Finance Company Limited, holds an LTP of Rs. 150.00, as recorded on December 5th, 2023. These details provide additional context for potential investors considering participation in the ongoing promoter share auction.

  • United Mewa Khola Hydropower Enters IPO Agreement with Citizens Capital for “Mewa Khola Jalbidhyut Ayojana” Project”

    United Mewa Khola Hydropower Enters IPO Agreement with Citizens Capital for “Mewa Khola Jalbidhyut Ayojana” Project”


    In a ceremony held at Dillibazar, Kathmandu, United Mewa Khola Hydropower Limited officially entered into an Initial Public Offering (IPO) Issue Management Agreement with Citizens Capital Limited. The agreement, signed by Mr. Aashish Thapa, the Executive Chairman of United Mewa Khola Hydropower Limited, and Mr. Sabir Bade Shrestha, the CEO of Citizens Capital Limited, outlines the collaboration for managing the IPO.

    Under the terms of the agreement, Citizens Capital Limited, a subsidiary of Citizens Bank International Limited, will take charge of overseeing the Initial Public Offering for United Mewa Khola Hydropower Limited. The IPO aims to issue ordinary shares to both affected locals and the general public.

    United Mewa Khola Hydropower Limited is currently engaged in the development of its project titled “Mewa Khola Jalbidhyut Ayojana” situated in Taplejung District. This hydropower project is designed to generate 50 megawatts of power. The signing of the IPO Issue Management Agreement marks a significant step for United Mewa Khola Hydropower Limited as it progresses towards making its shares available to the public through the IPO managed by Citizens Capital Limited.

  • Sarbottam Cement Announces IPO for Industry-Affected Locals and Foreign Nepalese Immigrants, Following Successful QII Allotmen

    Sarbottam Cement Announces IPO for Industry-Affected Locals and Foreign Nepalese Immigrants, Following Successful QII Allotmen


    Sarbottam Cement Limited has issued an offer letter for an Initial Public Offering (IPO) targeting industry-affected locals of Nawalparasi District, mine excavation-affected locals of Palpa District, and Foreign Nepalese Immigrants. The IPO subscription period for the specified groups is set from 25th Poush to 10th Magh, 2080. Notably, if the issue remains undersubscribed for the industry-affected locals of Nawalparasi District and mine excavation-affected locals of Palpa District by the early closing date, it may be extended until Magh 25. However, there will be no extension for Foreign Nepalese Immigrants beyond the early closing date.

    Previously, Sarbottam Cement conducted the issuance of its primary shares through the book-building process for Qualified Institutional Investors (QII) from 6th to 10th Mangsir, 2080. The allotment for the 36,19,190 unit shares, against the initially offered 24 lakh units to eligible institutional investors, took place on the 11th Mangsir.

    The overall issuance plan involves Sarbottam Cement offering 12.9033% of its issued capital amounting to Rs. 4.65 Arba, equivalent to 60 lakh shares or 60 crores. Out of this, 40% (24 lakh shares) has already been issued and allotted to Qualified Institutional Investors, leaving the remaining 60% (36 lakh shares) for the general public.

    Among the general public shares, 9,30,000 units will be allocated to industry-affected locals of Nawalparasi District and mine excavation-affected locals of Palpa District. The remaining 26,70,000 units will be divided into two portions – 10% (2,67,000 units) for Nepalese citizens working abroad, and the remaining 24,03,000 units for the general public.

    Global IME Capital has been appointed as the issue manager, and applications can be submitted for a minimum of 50 units and a maximum of 10,000 units.

    The share price for common investors is set at Rs. 360.90 per share. The IPO is being conducted through the book-building method, where the ‘cut-off price’ during the primary shares allotment to Qualified Institutional Investors was Rs. 401. As per the guidelines, shares for the general public are offered at a 10% discount to the ‘cut-off’ price, resulting in Rs. 360.90 per share for common investors.

    ICRA Nepal has maintained its issuer rating of [ICRANP-IR] BBB+ and reaffirmed the long-term rating of [ICRANP] LBBB+ and the short-term rating of [ICRANP] A2 to Sarbottam Cement Limited.