Today marks the final opportunity for eligibility in the rights offering of Upper Tamakoshi Hydropower Limited (UPPER).
The company plans to distribute 100% right shares by releasing 105,900,000 (1:1) units of right shares to its current shareholders. Currently, the company’s paid-up capital stands at Rs. 10.59 Arba. With the implementation of the intended right share, the company’s paid-up capital will surge to Rs. 21.18 Arba.
Mahalaxmi Bikas Bank Limited (MLBL) has announced a notice for shareholders of former entities (Malika Bikas Bank Limited, Mahalaxmi Finance Limited, Yeti Finance Limited, Siddhartha Finance Limited, and Valley Finance Limited) regarding uncollected dividends from past general meetings. If you haven’t received your dividend yet, you need to get in touch with the bank’s share registrar, Siddhartha Capital Limited, situated at Narayanchaur, Kathmandu. Alternatively, you can contact the bank’s share department for further details on claiming your outstanding dividends.
NEPSE has listed 39,719,006 units of IPO shares from Ghorahi Cement Industry Limited, which include shares held by promoters, those given to the public, and locals affected by the project. These shares have an initial price range of Rs. 226.61 to Rs. 679.83 for the first trade. If the company and NEPSE sign an agreement, the IPO shares will be available for secondary market trading the following day.
Among the total shares worth Rs. 3.97 Arba, 69,11,670 units were offered to the general public during the Initial Public Offering held from Ashad 22-25, 2080.
In today’s trading, the Nepal Stock Exchange (NEPSE) Index ended at 2,066.05 points, showing a slight increase of 5.13 points or 0.24% from yesterday’s close. Yesterday, the index had a notable rise of 41.06 points. The day started with the index at 2,058.96, hitting a low of 2,045.98 temporarily, and then reaching a peak of 2,080.81 before settling at 2,066.05 at the close.
Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) has recently made a significant move in the stock market. They’ve listed a substantial number of bonus shares, specifically 11,87,977.18 units, on the Nepal Stock Exchange (NEPSE). This comes after the company’s 11th Annual General Meeting, held on April 30th, where they decided to reward their shareholders with a 15% bonus share for the fiscal year 2078/79.
During the AGM, the company’s board of directors agreed to allocate a bonus dividend equivalent to 15% of the company’s capital. This bonus dividend amounts to a significant sum of Rs. 11.87 Crores. This distribution is based on the company’s paid-up capital of Rs. 79.19 crores. These newly distributed bonus shares are now officially listed on NEPSE.
As of the latest available information, SWMF’s closing stock price was Rs. 661.40 in the previous trading session. This development marks an important step for the company and its shareholders in the dynamic stock market landscape.
Nepal Telecom has announced that they have experienced a loss of around 10 lakh rupees due to missing recharge cards. These cards, valued at 50 rupees each, vanished while being transported from Kathmandu to Bhairahwa. The incident was revealed by Nepal Telecom’s Wireless Services Directorate located at Babarmahal.
Sun Nepal Life Insurance Company Limited will release 76,80,000 IPO shares starting August 15, 2023. The offer ends on August 20, but it could continue until September 4 if not fully subscribed.
The company’s total capital is Rs. 3.2 billion, with 30% (96,00,000 shares) available for the public, including Nepalese citizens abroad. Additionally, 10% (960,000 shares) were already issued to overseas Nepalese citizens between July 16 and July 30.
During a Cabinet meeting on Tuesday, a significant decision was made to approve the Cyber Security Policy 2080. This step, confirmed by the Ministry of Communication and Information Technology, sets the stage for the upcoming Cyber Security Bill. The government aims to create a secure and advanced cyber environment in the country with this policy.
With this policy in place, the Ministry expects to play a crucial role in strengthening the nation’s information and technology systems. They plan to achieve this through various methods and workforce development. This includes establishing strong laws and institutions, increasing public awareness, and promoting skill-building. Before being officially adopted, the policy draft received input and feedback from various stakeholders.
A Letter of Credit (LC) is a crucial financial tool in global trade that ensures a secure exchange of goods and payments between international buyers and sellers. Functioning as a guarantee from the buyer’s bank, the LC assures the seller of payment upon meeting specified conditions, including delivering goods and providing necessary documents. This system offers protection to both parties by reducing risks linked to non-payment and non-delivery, playing a vital role in enabling reliable cross-border transactions.
Nepal Rastra Bank has taken steps to streamline import processes, aiming to simplify trade activities. In a recent comprehensive announcement, the central bank has increased the limit for Letters of Credit (LCs) used for importing goods.
“Citizens Super 30 Mutual Fund (C30MF) has recently been introduced to the NEPSE market, with a total of 75,072,390 units available for trading. This fund operates as a closed-end type, indicating that it has a fixed maturity period of 10 years. When it was initially issued, the mutual fund distributed 10 crore units, valued at Rs. 1 Arba, with 15% (1.50 crore units) set aside for allocation to its sponsor, Citizens Bank International Limited. This left 8.5 crore units open for public subscription. Investors now have the opportunity to engage in trading and investment activities with this fund on the NEPSE platform.”
The life insurance company recently offered its regular shares to the public at a premium price of Rs 244 per share, starting from Asar 31 to Shrawan 14, 2080. According to a press release, the company distributed shares based on different categories of applicants. Around 7,885 applicants received shares based on their requested quantity within the range of 10 to 40 units. Additionally, 19,743 applicants who had applied for 50 to 2000 units were allotted 40-unit shares each. In a stroke of luck, 18,029 applicants from the latter group were selected through a lucky draw to receive an extra 10-unit shares.
During today’s trading session, the Nepal Stock Exchange (NEPSE) Index concluded at 2,019.85 points, marking a significant decrease of 28.40 points or 1.38% in comparison to yesterday’s close. On Monday, the index saw a minor dip of 3.21 points.
The session commenced with an opening index of 2,047.72, briefly reaching a peak of 2,055.31 intraday. However, the market experienced a low of 2,013.37 before settling at the final value of 2,019.85 at the close.