Nepal to launch NT IPO next week

17 Jan 2008

The government of Nepal is set to launch the country’s largest ever initial public offering (IPO) next week when its sells 15 million shares in national PTO Nepal Telecom (NT), equivalent to a 10% stake in the company, for at least NPR9 billion (USD138.3 million). The state has set a minimum price of NPR600 per share, representing a face value of NPR100 and a premium of NPR500 per share. The IPO will last for 35 days and no individual or organisation will be allowed to buy more than 5,000 shares. The state-controlled operator has already sold 7.5 million shares, or 5% of the company, to employees.

Nepal, Nepal Telecom (NT)