Trading Begins for Two Major IPOs on Nepali Stock Exchange
Kathmandu. Trading for two popular Initial Public Offerings (IPOs) commenced today on the stock market. Shares of Salpa Development Bank and Reliance Spinning Mill began trading starting today.
As per the new regulation by NEPSE, the opening trade price for both IPOs was capped at a maximum of NPR 300. Both shares started trading at this maximum price.
However, Salpa Development Bank experienced a positive circuit breaker in its first seven trades. As of the time this news was prepared, 14 trades had occurred for the bank. Its IPO was sold at NPR 100 per share.
Reliance has had 7 trades so far. The price of this company's stock closed at NPR 306, which is 2 percent higher than its opening trade price. Its IPO was sold at NPR 820 per share.
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