Tag: Summit

  • Nepal Prepares for Nepal Investment Summit 2024 to Boost Economy

    Nepal Prepares for Nepal Investment Summit 2024 to Boost Economy


    The Government of Nepal is gearing up for the highly anticipated Nepal Investment Summit 2024, set to kick off on April 28 in Kathmandu. This two-day event, themed ‘Emerging Nepal,’ aims to showcase 125 national-level projects across various sectors to attract investment and foster economic development in the country.

    Prime Minister Pushpa Kamal Dahal, in discussions with development partners, emphasized the government’s unwavering commitment to creating a secure and conducive investment climate. The Investment Board of Nepal (IBN) has extended invitations to over 1,100 potential investors, with more than 100 projects identified as viable for display at the summit.

    Nepal boasts promising investment prospects in sectors such as clean energy, tourism, agro-processing, mining, information and communication technology (ICT), transportation, and manufacturing. Highlighted projects include the Nepal-China Friendly Industrial Park in Jhapa, the Upper Marsyangdi-2 Hydropower Project, grid-connected solar initiatives in Banke and Kapilvastu districts, and a potential agreement with Dabur Nepal for expanding production capacity.

    The estimated cost of the Nepal-China Friendly Industrial Park is $786 million, while the Upper Marsyangdi-2 Hydropower Project seeks $647 million in Chinese investment. Grid-connected solar projects and Dabur Nepal’s expansion plan also present significant investment opportunities, showcasing Nepal’s appeal to prospective investors.

    Despite past investment summits in 2017 and 2019 aimed at boosting Nepal’s attractiveness to investors, challenges remain in translating summit outcomes into tangible results. The government has undertaken pre-event activities abroad and streamlined preparations, but delays in amending relevant legislation persist, hindering progress towards creating a more investor-friendly regulatory environment.

    Pre-Seminar on Nepal Investment Summit held in Zhejiang Province of China - Click Nepal

  • Was 2nd Nepal Investment Summit of 2019 a success?

    Was 2nd Nepal Investment Summit of 2019 a success?


    Did Nepal score any foreign Investment in the past. 3rd summit is going to happen in Baisakh 15-16 so, i am curious about history. And what will this new summit do in NEPSE ?
    THANK YOU

    View on r/NepalStock by -No-One-Nepal

  • NRB Approves Merger of National and Summit Microfinance

    NRB Approves Merger of National and Summit Microfinance


    The Nepal Rastra Bank (NRB) has given its final approval for the merger between National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) and Summit Laghubitta Bittiya Sanstha Limited (SMFDB). National Microfinance (NMFBS) issued a press release announcing the approval. The merger proposal by National Microfinance was presented at a Special General Meeting (SGM) and was later finalized through a merger agreement signed by both companies’ boards of directors.

     

  • “Summit Laghubitta Lists 670,000 Bonus Shares on NEPSE”

    “Summit Laghubitta Lists 670,000 Bonus Shares on NEPSE”


     

     

    Summit Laghubitta Bittiya Sanstha Limited’s Bonus Shares Listed in NEPSE

    The listing of 6,70,000 unit bonus shares of Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has been completed in NEPSE. During the company’s 14th Annual General Meeting held on 3rd Ashad, a dividend of 14.276582% was approved for the fiscal year 2078/79. In a board meeting on Falgun 15, it was decided to distribute 13.56% bonus shares worth Rs. 6.70 Crores and a cash dividend of 0.713829% worth Rs. 35.26 Lakh on the paid-up capital of Rs. 49.40 crores. As of the latest update, the Last Traded Price (LTP) for SMFDB stands at Rs. 945.

  • Summit Laghubitta Bittiya Sanstha AGM Announced: Dividend Endorsement, Merger Proposal, and FPO Agenda on the Table

    Summit Laghubitta Bittiya Sanstha AGM Announced: Dividend Endorsement, Merger Proposal, and FPO Agenda on the Table


    Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has announced the date for its 14th Annual General Meeting (AGM) on 30th Jestha, 2080. The meeting is scheduled to take place at Arniko Party Palace in Banepa, commencing at 10:30 AM.

    One of the key agendas of the AGM is the endorsement of a 14.276582% dividend for the fiscal year 2078/79. During the 33rd board of directors meeting held on Falgun 15, it was decided to distribute this dividend on the paid-up capital of Rs. 49.40 crores. The proposed dividend includes a bonus dividend of 13.562753%, amounting to Rs. 6.70 crores, and a cash dividend of 0.713829%, equivalent to Rs. 35.26 lakhs (for tax purposes).

    Additionally, the AGM will discuss and vote on resolutions related to the Due Diligence Audit and Memorandum of Understanding for the proposed merger between Summit Laghubitta and National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS). The share swap ratio for the merger has been set at 100:82, meaning that for every 100 units of Summit’s shares, shareholders will receive 82-unit shares of National Microfinance.

    Furthermore, the meeting will address the issuance of Further Public Offerings (FPO) to the general public, aiming to increase the company’s public shareholding ratio by 30%. Currently, the promoter to public shareholding ratio of the company stands at 80.63:19.37. There is also an agenda to raise the authorized capital to Rs. 70 crores.

    It is important to note that the book closure date has been set on Jestha 18. Shareholders who hold shares before this date will be eligible for the dividend payout and are welcome to attend the AGM. These discussions and resolutions signify the company’s efforts to enhance shareholder value and explore opportunities for growth and expansion.