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Nepal central bank to sell stake in stock exchange

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Nepal central bank to sell stake in stock exchange

Nepal's central bank is seeking to sell its stake in the Nepal Stock Exchange as part of the government's plans to privatize the bourse, The República reported Dec. 7.

The Nepal Rastra Bank recently asked the stock exchange to start a sale process for the central bank's 34.6% stake. Bhisma Raj Dhungana, executive director at the central bank's corporate planning department, said the government has decided to sell its stake in the stock exchange to bring a strategic investor. The government owns a 58.66% stake in the stock exchange.

Given the government's slow pace on the stock exchange's privatization initiative, the Securities Board of Nepal recently decided, in principle, to add a new stock exchange company for promoting competition in the securities market.