NRB to divest its share from Nepse

KATHMANDU:

Nepal Rastra Bank (NRB) — central monetary authority — is mulling over divesting its share from Nepal Stock Exchange (Nepse), country’s only bourse established 22 years back on initiative of the government and private sector.

NRB Governor Yubaraj Khatiwada, today, invited interested private parties who want to buy NRB’s stake, at a function to mark Nepse’s 22nd anniversary.

“We are thinking of divesting our share as per prudent regulatory practices,” said Khatiwada, adding, “Now, private parties are prepared to invest in Nepse.”

NRB owns 34.60 per cent share of Nepse. Likewise, the government owns 58.66 per cent; NIDC Development Bank owns 6.12 per cent and 0.62 per cent shares are held by member brokers.

Source: THT