NLG Insurance distributing cash dividend warrants from 23rd Feb 2014

NLG Insurance Company Limited is distributing 11.05 percent cash dividend warrants to its shareholders from today.

Earlier this month the Annual General Meeting of the insurer had endorsed 11.05 percent cash dividend and 10 percent bonus shares to its shareholders from the net profit it earned in the last fiscal year 2069/70.

NLG had posted a net profit of Rs 14.37 crore in the last fiscal year.

The dividend warrants are being distributed through its RTS, Civil Capital Market Limited at Kamaladi in Kathmandu from 10:00 AM to 3:00 PM from Sunday to Thursday, and from 10:00 AM to 1:30 PM on Fridays.

Source: sharesansar.com, 23rd Feb 2014
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Ridi hydropower IPO to be oversubscribed by 70 times

Ridi Hydropower Development Company Limited’s Initial Public Offering (IPO) of 11.70 lakh units, is oversubscribed by more than 70 times, according to the preliminary estimate.

“We collected 2.7 arba by Wednesday, which means it was oversubscribed by some 25 percent in the first three days,” a highly placed official with Civil Capital Limited told ShareSansar today.  “Going by the data pouring in from the collection centers, we are expecting the IPO to be oversubscribed by more than 70 times, may be up to 75 times.”

Long queues of applicants could be seen in all the eight collection centers from early in the morning till late into the evening. And most importantly, the IPO usually draws more money in the last day compared to the initial days combined as institutional investors turn up only on the final day.

Initially the issue manager had estimated the IPO may be oversubscribed by some 50 times.

Ridi hydropower had issued the IPO at the face value of Rs 100 per unit on February 16.

The IPO being managed by Civil Capital Market Limited and co-managed by Elite Capital Limited will close on February 20 latest.

Applicants must apply for a minimum of 50 units and could apply for the maximum of 10,000 units.

Of the total units of the primary shares, 58,500 units have been kept aside for Nabil Balanaced Fund-1, SIG1 and Nagarik Ekanaga Yogana, and additional 23,400 units have been reserved for the hydropower's staff.

It may also be noted that Ridi has already issued the IPO for 3 lakh unit equity shares to the local residents affected or in the vicinity of the 2.4 MW Ridi Khola Small Hydropower Project in October last year.

Ridi Khola Small Hydropower Project came into operation in Kartik 2066, has already sold electricity worth Rs 14.83 crore to the Nepal Electricity Authority.

The developer of the project, Ridi Hydropower Development Company was registered as a private company back in Ashwin 2057 and converted to a public undertaking in Shrawan 2063.

The company has the authorized capital of Rs 50 crore, issued capital of Rs 30 crore and the paid-up capital of Rs 18.3 crore after the issuance of the IPO to the locals.
After the issuance of the IPO to the general public, Ridi Hydropower’s paid-up will surge to Rs 30 crore.

ICRA Nepal has given Grade 3 credit rating to the IPO of the company, which had posted a net profit of Rs 2.12 crore in the last fiscal year 2069/70.

Ridi Hydropower Development Company, which is one of the companies in the group of Arun Valley and Rairang Hydropower Development Company have four projects under its belt.

Among them, three are already operational while one is under construction.

Source: sharesansar.com, 21st Feb 2014
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Century Bank IPO allotment by March 3rd to 4th

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is expected to be allotted March 3 or 4, according to the issue manager.

“We are planning to allot the IPO by March 3 or 4, and distribute the allotment slips and refund the non-allottees most probably by March 9,” an official with Civil Capital Limited, the issue manager, told ShareSansar today.

Century’s IPO was oversubscribed by more than 25 times.

The IPO, which was issued from January 9, had closed on January 13.

Century’s IPO was one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

The offering was also special in that it was the largest IPO to be issued by any private bank in the country, second only to primary shares worth Rs 96 crore floated by Agriculture Development Bank Limited.

ICRA Nepal had assigned an ‘[ICRANP] IPO Grade 4+’ to Century Bank’s IPO, which is not at all bad by any standards.

Following the IPO, the commercial bank’s paid-up capital of Rs 1.08 billion will rise to Rs two billion, as per the regulatory requirement.

It may be noted that there was a huge response to the IPOs issued by three commercial banks — Civil Bank, Commerz and Trust Bank Nepal and Mega Bank—had issued their IPO over the last one year.

Civil Bank’s IPO was oversubscribed by seven times, Commerz and Trust’s IPO was oversubscribed by 11 times and Mega Bank’s IPO was oversubscribed by 22 times.


Source: sharesansar.com, 19th Feb 2014
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Samsung Galaxy Grand 2 launched in the Nepalese market

KATHMANDU: International Marketing Service (IMS), the authorized distributor of Samsung mobile phones in Nepal, on Sunday launched Galaxy Grand 2 phablet in the market.

The successor of Galaxy Grand has been priced at Rs 36,900.  

The dual-SIM phablet runs on Android 4.3 Jelly Bean OS and features a 5.25-inch HD TFT display. The phone with 720x1280 pixels resolution is powered by 1.2 GHz quad-core processor and 1.5 GB RAM. The phone has 8GB internal memory and supports external memory up to 64 GB via microSD card.

According to the company, the Grand 2 has 1.9 MP front camera and 8 MP rear camera. Powered by 2100 mAh battery, the phone supports Wi-Fi, Bluetooth, GPS/A-GPS, Micro-USB and 3G (HSPA+) connectivity.

Meanwhile, the company has announced two percent discount for all the buyers of Grand 2 for a limited period.

Source: myrepublica.com
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Ridhi Hydropower Company to issue IPO from February 16th

KATHMANDU, Feb 9: Ridi Hydropower Development Company (RHDC) is floating 1.17 million units of primary shares with face value of Rs 100 each from February 16.

The company had received the go-ahead from the Securities Board of Nepal (Sebon) - the stock market regulator -- to issue shares worth Rs 117 million on February 3. The IPO will continue till February 20.

The 2.4-megawatt capacity project has been developed on Ridi River that borders Gulmi and Palpa districts. It has allocated 58,500 units of shares to three mutual funds -- Nabil Balance-1, Siddhartha Investment Growth Scheme-1 and Nagarik Yekanka Yojana - on proportional basis and 23,500 units to its employees.

According to the company, one should apply a minimum of 50 units of shares while the maximum limit has been fixed at 10,000 units. The company has appointed Civil Capital Market as the issue manager and Elite Capital as the joint issue manager.

With the issuance of primary shares, the paid-up capital of the company will reach Rs 300 million. Kuber Mani Nepal, director of the RHDC, told Republica that they were planning to utilize the money collected from the IPO to develop Iwa Khola Hydropower Project (10 MW) in Panchthar district. “The issuance of primary shares will help to change the perception that Nepal´s hydropower companies are not transparent,” he said, adding that the company anticipates an overwhelming response to the IPO.

Nepal said he expects the company´s IPO to be oversubscribed by 10 times. “If the attraction of investors toward primary issues in recent years is anything to go by, our IPO could be oversubscribed by 20 times,” he added.

RHDC would be the sixth hydropower company to issue primary shares. So far, Arun Valley Hydropower Development Company, Butwal Power Company, Chilime Hydro Power Company, National Hydro Power Company and Sanima Mai Hydropower have gone public. Similarly, Upper Tamakoshi Hydro Power (UTHP) has sought permission of Sebon to float 25.42 million units of shares, while Barun Hydropower Company has applied at Sebon to issue 243,000 units of shares to the people in the project affected area.

In recent years, IPOs have been attracting investors in droves. Anjan Raj Poudel, former president of Stock Brokers´ Association of Nepal, told Republica that the investors are lured toward IPOs as the shares they bought go up once they are listed in the secondary market. “Most of these investors are from the secondary market and they invest their money with the expectations of good return in short span of time,” he said.

Source:myrepublica.com, 9th Feb 2014
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Tourists coming to Nepal for Mountain Biking tripled in the last 3 years

KATHMANDU, Feb 1: The number of tourists coming to Nepal for mountain biking has tripled over the last three years.

Ranjan Rajbhandari, director of Nepal Mountain Bike Tours, said the number of foreigners as well as Nepalis preferring mountain biking has shot up mainly because of increasing public consciousness about health and shortening of trekking trails.

“Our record shows that around 20 percent of the tourists visiting Nepal go for mountain biking compared to around eight to 10 percent in 2009/10,” said Rajbhandari who is also the executive member of Trekking Agencies´ Association of Nepal (TAAN).


According to figure compiled by TAAN, around 120,000 tourists went for mountain biking in 2011/12 compared to around 40,000 in 2009/10. “The number has been increasing constantly,” added Rajbhandari.

The company which started its operation in 2005 operates mountain biking in Kathmandu Valley, Pokhara, Daman, Hetauda, Chitwan, Lumbini, Tansen, Mustang and Jomsom to Muktinath, among others.

The company charges Rs 1,000 per day for Nepalis which includes cycle only while it charges Rs 5,000 for foreigners that include cycle, lunch and a guide facility.
Foreigners, however, have to pay Rs 3,000 extra for accommodation in case they have to stay at various places while cycling.

Mountain bike tour operators said almost 20 percent of the total tourists visiting Nepal went for mountain biking in 2011/12. During the year 2009/10, around eight percent tourists were mountain-bikers.

According to the Ministry of Culture, Tourism and Civil Aviation (MoCTCA) in 2012, number of tourists coming for trekking and mountaineering has jumped to 105,015 from 70,218 recorded in 2010.

However, the data does not separate the tourists coming for mountain biking.  Mountain biking in Nepal is usually carried out up to an altitude of 4,500 meters.
However some companies even offer biking services to Thorong La Pass which is at the height of 5,416 meters.

Nepal is considered as the best destination for mountain biking.

The number of tourists preferring mountain biking in Nepal increased noticeably after the government recognized mountain biking as adventure sports for Nepal Tourism Year 2011 campaign.

“With the recognition of mountain biking as sports tourism, the number of tourists coming for mountain biking has started to increase,” said Jagan Biswokarma, manager of Pokhara Mountain Bike Adventure (PMBA).

PMBA which started its operation in 2004 offers high altitude mountain biking from 2,800 meters in Jomsom to 5,416 meters in Thorong La Pass. The charge ranges from Rs 500 to Rs 1,500 per day depending on the location. 

Source: myrepublica.com, 1st Feb 2014
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