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NICB Allocates Shares

Nepal Industrial and Commercial Bank Ltd. (NICB) has made allocations of its 17,50,000 shares to 42,078 applicants. Of the number, 52,500 shares went to 68 employees of the Bank.

Initially, according to directives of the Secutiry Board, NICB was required to issue shares to 87,500 shareholders, with at least 50 individuals holding 1000 shares each. According NIDC capital markets, the issue manager, the decision to bring the number down to around 42,000 was taken jointly by the Security Board, Nepal Stock Exchange, the Issue Managers and the Company Registrar at the request of NICB, keeping in view the administrative costs that might have had to be incurred with such a large number of shareholders.

21 Listed as Blue Chip Companies

The Nepal Stock Exchange Ltd. (NEPSE), in a press release, has categorized 21 listed companies as blue chip companies. The categorization has been made on the basis of financial data received from the companies,for the last year states the release. Altogether 108 companies are listed under NEPSE.

The 21 blue chip companies are: Nepal Arab Bank, Nepal Grindlays Bank, Himalayan Bank, Nepal Life and General Insurance Company, United Insurance Company (Nepal), Premier Insurance Company (Nepal), National Finance Company, Nepal Housing Development and Finance Company, Himalayan Securities and Finance, Paschimanchal Finance Company, Necon Air, Nepal Indosuez Bank, Nepal SBI Bank, Nepal Bangladesh Bank, Himalayan General Insurance Company, Everest Insurance Company, Neco Insurance Company, Kathmandu Finance Ltd., Citizen Investment Trust, Mahalakshmi Finance Ltd. and Soaltee Hotel Ltd.

Share Price in Nepal Stock Exchange

(Closing Price Only)

(Rupees per share)

Company

Book Value

Dec. 15 '99

Jan. 1, 2000

Jan. 14, 2000

Feb. 1, 2000

Nepal Bank Ltd.

100

338

331

350

340

Nabil Ltd.

100

830

890

875

975

Nepal Indosuez Bank

100

995

1050

Nepal Grindlays Bank

100

1410

1481

1580

Himalayan Bank

100

1405

1500

1350

Nepal SBI Bank

100

680

716

755

800

Nepal B'desh Bank

100

776

790

915

910

Everest Bank

100

480

515

551

566

Bank of Kathmandu

57

412

476

516

505

Necon Air

100

276

267

250

National Life & General Ins.

100

575

Taragaon Regency Hotel

100

115

Soaltee Hotel Ltd.

10

114

117

NB : Blank Cells indicate that the respective scrips were not traded on that day

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