Nepal Telecom launches its IPO (Nepal)
February 15, 2008
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Nepal Telecom (NT) has listed itself on the Kathmandu Stock Exchange. The company has launched the country's biggest IPO of 15 million shares, offloading around 10 per cent stake. The minimum price per share has been fixed at NPR 600 (face value of NPR 100 each plus a premium of NPR 500 per share) for public bidding. The offering, which opened in the last week of January 2008, will last for 35 days. NT is expecting to raise at least NPR 9 billion from the IPO.
The Nepalese telecom service provider has already sold 5 per cent equity, totalling 7.5 million shares, to its employees, at a discount of NPR 10 per share at NPR 90.
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