Axiata Group has announced that its Nepalese mobile network operator Ncell, previously registered as Ncell Pvt Ltd, has been converted to a public limited company and will now be known as Ncell Axiata Limited. The change has been made in line with a provision in Article 13 (1) of the Company Act 2006, which requires telecom firms with paid-up capital above NPR50 million (USD413,151) to transform into a public company; Ncell currently has a paid-up capital of NPR100 million. Following the change, Ncell is required to sell up to 20% of its shares to the public, although the company has not disclosed any details of the share issue. Axiata Group of Malaysia owns 80% of Ncell and local investment firm Sunivera Capital Ventures holds 20%.
In other news, Ncell has launched a new fixed-wireless broadband service for homes and businesses. Initially available in more than 40 districts of the country, prices for the ‘Wirefree+’ bundled service start at NPR690 per month on a yearly subscription for 60GB of Wi-Fi data, 200 minutes of on-net voice calls and two 4G SIM cards, each with a 5GB monthly mobile data allowance, as well as access to digital media content.