Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Shares of Reliance Spinning Mills and Salapa Development Bank recorded their first market transactions at Rs 300 per share during Monday’s special pre-open session, marking their trading debut on Nepal’s secondary market.
According to the Nepal Stock Exchange, both companies opened at the same price following the implementation of the exchange’s revised listing rule that caps the opening range for newly listed companies at three times the face value.
The two firms were officially listed on the stock exchange on Falgun 1.
Reliance Spinning Mills listed a total of 19 million ordinary shares with a face value of Rs 100 each. Likewise, Salapa Development Bank listed 5.223 million ordinary shares, also at a face value of Rs 100 per share.
Under the newly introduced pricing mechanism, the exchange fixes the opening range for new listings within a limited band based on face value, replacing the earlier wider range system. As both companies fall under the same valuation rule, their first trades were executed at the upper threshold of Rs 300 per share during the special session.
Market analysts say the uniform opening reflects the exchange’s attempt to reduce extreme volatility during the first trading days of newly listed companies and to establish a more predictable price discovery process.
Both stocks will now enter regular trading sessions, where prices will move according to market demand and supply dynamics.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
