Government has decided not to sell the unsubscribed shares of Nepal Telecom Ltd. at present. The equity market is constantly declining and the NTC's shares are being traded at its lowest levels. Hence the finance ministry has postponed the remaining shares sale and will be deciding on the matter only after the market warms up. The shares of NTC were decided to be sold in premium at Rs. 600, but some investors even paid Rs. 2500 for a single share. Altogether, 8200000 shares got enlistment in Nepal Stock exchange. Within a short span of its trading history, NTC's share discovered new height of Rs. 1481 on 1st Sep 2008 but started to plunge down to make a lowest life-time low of Rs. 540 on 25th Nov 2008. With regard to 10 percent share of Nepal Telecom set aside for sale, Dr. Bhattarai in his budget speech stated that, the remaining share will be sold through secondary market. It seems like the investors need to wait a bit long for getting hold on the outstanding shares.
Source: Jamb News Service
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Friday, December 12, 2008
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