What did NIFRA response to Nepse?

Kathmandu, March 21

Nepal Infrastructure Bank Limited (NIFRA) has replied to the Nepal Stock Exchange (NEPSE) on various issues.

Nepse had asked for clarification from NIFRA on Chaitra 4, where an online media report on the bank’s about 30 million bond and listing on the London Stock Exchange. Nifra had sent a reply to Nepse to the same letter.

 In a statement, NIFRA said the issue of a 30 million $ bond was part of the bank’s strategy and that the bank had already mentioned it in its annual reports and in the statement prepared for the issuance of ordinary shares. In addition to this, it has been clarified in the letter that some of the agreements and approvals that the bank has to get from the concerned regulatory body as per the prevailing arrangement to issue bonds before the listing of the bank’s shares in Nepse. The letter states that the bank is moving ahead with the issuance of bonds at the fixed interest rate and listing on the respective stock exchanges as soon as possible with the additional consent and approvals required to finalize it.

Regarding the dividend, the bank has projected to distribute 8 percent dividend in the fiscal year 2077/78 in the statement published during the issuance of its public shares. As the decision regarding the distribution of dividend will be taken only through the meeting of the Board of Directors, the approval of the concerned regulatory bodies and the decision of the annual general meeting, it is mentioned in the letter.