Nepal Telecom giving 22 percent shares to consumers

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The government is going to sell 22 percent shares to the customers of Nepal Telecom. Presenting the budget for the coming fiscal year 2078/079, Finance Minister Bishnu Poudel has made the announcement.

Nepal Telecom’s landline, mobile and internet service customers will be able to buy shares. In the budget statement, it is mentioned that the person who become a customer of one of these three services of the company will be able to participate in the share purchase process by mid-January. The details of the company’s share distribution process and share price are mentioned in the budget to be decided by mid-October.

The Nepal telecom currently has 91.50% share owned by the government while the general public has 8.47% and Citizen Investment Trust funds claims 0.03% of shares. The government is disinvesting its shares by selling offering 22% to the stakeholders. By doing this, it will be make a hefty amount of capital and allow wider public participation in the country’s largest telecom operator.

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