NT's shares to be floated at USD9.22 each

7 Jan 2008

The government of Nepal has decided to sell shares in national PTO Nepal Telecom (NT) at the minimum rate of NPR600 (USD9.22) each, according to unconfirmed press reports in the Kantipur Daily. The share value has been fixed to float shares amounting to NPR1.5 billion, or 10% of NT’s total share, to the general public. NT officials said the move is designed to reduce the government’s ownership in the country’s largest telecoms service provider. The state authorities hope to float the shares to the public by April this year.

Nepal, Nepal Telecom (NT)