July 19: Nepal Rastra Bank (NRB) has decided to sell its share of Nepal Stock Exchange (NEPSE). The central bank has announced 1729989.5 units of share of Nepal Stock Exchange on auction for sale.
Murari Parajuli, spokesperson of NEPSE, said that the central bank has decided to sell the shares in accordance to the government’s plan of restructuring NEPSE under the Strategic Plan for Development of Financial Sector.
According to Nepal Rastra Bank regulation, the central bank cannot invest in shares more than 10 percent in any organization. However, NRB currently has investment around 34.60 percent of the total capital of NEPSE.
Meanwhile, Nepal government owns 58.66 percent of the total share. Likewise, Rastra Banjiya Bank owns 6.12 percent and the remaining shares belong to other companies.
NRB in a statement on July 16 informed that the eligible companies interested in purchasing its share of NEPSE will have to submit a sealed quotation to the finance management depart of NRB by August 18.