Register with CDS or get delisted: Nepse tells companies

Nepal Stock Exchange (Nepse) has given listed companies a month-long ultimatum to register with Central Depository System and Clearing Ltd (CDSCL) or face consequences.

CDSCL is a subsidiary of Nepse that provides one-window service for centralized depository, clearing and settlement services in the capital market. It acts as a central depository for various instruments (equity, bonds, and warrants etc) especially to handle securities in dematerialized form without physical movements of securities or execution of transfer.

IPO Allotment of Ekata Bikas Bank - View Online Results

Allotment of the Initial Public Offering (IPO) of Ekata Bikas Bank has taken place this morning at the office of NMB Capital, which is the issue manager of the development bank.

As per the official, the IPO has been allotted proportionately at 6.5334 percent, and those who had applied between 50 and 140 units of the primary shares were placed under lottery.

The IPO worth Rs 8 crore floated by the development bank on June 4 was oversubscribed by 15.306 percent by the time the issue closed on June 9.

Among the total 8 lakh issued units, 24,000 units had been set aside for the bank staff, another 40,000 for the mutual funds and the remaining units were floated for the general public.

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Trading of Triveni Bikas Bank, Bright Dev. Bank and Public Dev. Bank halted for merger

Triveni Bikas Bank, Bright Development Bank and Public Development Bank’s scrip halted for trading from today. The three development banks signed the Memorandum of understanding (MoU) yesterday to start the merger process.

The MoU was signed by Lanka Bahadur K.C. - Chairman of Triveni Bikas Bank, Madan Prasad Adhikari - Chairman of Public Development Bank and Bhej Prasad Timilsina - Chairman of Bright Development Bank Ltd.

According to Bhej Prasad Timilsina, Chairman of Bright Development Bank Limited the merged entity will be named Triveni Bikas Bank Limited.

He further stated that the swap ratio will be decided once the Due Diligence Audit (DDA) is completed and he also mentioned that they intend to complete the merger process within six months to the max.

Ridi hydropower’s IPO to debut on July 4 at Rs 338

Ridi Hydropower Development Company Limited has signed the listing agreement with Nepal Stock Exchange Limited today. It means that it will debut at the trading floor on July 4.
 
Ridi’s company secretary Alok KC said that though the company planned to finished distributing most of the certificates within by June 6, the certificate distribution took longer than they expected. The Ridi’s primary scrip is expected to debut at Rs 338 per share though the opening price brand is Rs 101.87 to Rs 305.10.

Executive Director of the company Guru Prasad Neupane claimed that there is high demand for Ridi’s share in that the company is expected to make a net profit of Rs 6.5 crore in the current fiscal year itself, which can entail a bonus share of 10 percent.