Nepal Telecom's shares to be floated at Rs 600

There has been a decision to sell the shares of Nepal Telecom (NT) at the minimum rate of Rs 600 each, reports said.

The government had fixed the minimum rate after seeing investors' eagerness to buy the shares of this most profitable state-owned enterprise.

The share value was fixed to float shares amounting to Rs 1.5 billion (10 percent of NT's total share) to the general public, according to Kantipur Daily. NT officials said this was done to lessen government's ownership in the largest telecommunication service provider in the country. The Ankit Mulya of NT's shares is Rs 100. Finance secretary Bidhyadhar Mallik affirmed that the government has reached the decision to sell the telecom's share at the minimum rate of Rs 600 each. The government would make at least 9 billion rupees from this.

The government is doing necessary preparation for it so as to float the shares to the public by April this year.

Similarly, along with the general public, NT has also decided to float its shares worth Rs 750 million (5 percent shares) to its employees. nepalnews.com ag Jan 06 08