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December 28: Kathmandu Capital Limited has formally entered the investment sector from December 27. The company established as a public limited will invest in the hydropower, infrastructure and capital market.
The company has an authorized capital of Rs one billion with 256 promoter shareholders. The company has target to increase its paid-up capital to Rs 322.4 million by immediately issuing its share to public. Similarly, the company aims to raise its paid-up capital to Rs one billion within next three years.
Presently, the company has seven members in its board of directors (BOD). Moreover, it will be appointing five promoter shareholders and two general shareholders in the BOD after distribution of shares to the general public.
The company has announced of providing 25 per cent return in one year and 30 per cent return in the following year to the investors. "For the investment, the company will include NRNs, chartered accountant, banks and foreign investment," said Jaleswar Pandey, Executive Chairman of KCL.
During the programme, Nabindra Raj Joshi, Minister of Industry expressed that the all political parties' consensuses is required for the issues of economic development. "In the next 10 years period, no Nepali shall go to foreign land for work given that the country moves as per the common economic development agenda" he added saying, "For this, economic prosperity of citizens should be the priority of every political parties. He explained of exercising toward the economic development of the nation through opening the closed industries. Meanwhile, Pashupati Chaulagain, Member of Parliament requested the company to invest in employment generating sector instead of real estate and vehicle trading.
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<p style="text-align:justify"> The company has announced of providing 25 per cent return in one year and 30 per cent return in the following year to the investors. "For the investment, the company will include NRNs, chartered accountant, banks and foreign investment," said Jaleswar Pandey, Executive Chairman of KCL.</p>
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