As a part of divestment and privatisation plan, the government had started selling NT's 10 per cent shares to public through an auction. It had already sold five per cent to the Telecom's employees at the subsidised rate of Rs 90 per unit. All in all, 8200000 shares have enlistment in Nepal Stock exchange. The shares of NTC were decided to be sold at Rs. 600, but some investors even paid Rs. 2500 for a single share. After discovering new height of Rs. 1481 as on 1st Sep 2008 within a short span of time in its trading history, Eventually, the share price had plunged down to make a lowest life-time low of Rs. 800 as on 16th sep 2008. Information volatility is expected to gain extra momentum as per the budget approved for fiscal year 2008-09 Dr. Bhattarai stated that, with regard to 10 percent share of Nepal Telecom set aside for sale, the remaining share will be sold through secondary market.
Source: Jamb News Service
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Monday, September 22, 2008
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