EBL preference shares

KATHMANDU: Everest Bank Ltd (EBL) said that the public issuance of its preference share got a tremendous response. The bank had issued seven per cent convertible preference share of Rs 100 each with premium of each Rs 100 from July 4 to 10. The preference share is to be converted into ordinary shares every third year that is 3rd, 6th, 9th, 12th and 15th @ 20 per cent. The bank has issued a total of two million shares worth Rs 400 million. Of the total shares, shareholders were to get preference on allotment to the extent of 1,890,000 shares whereas the remaining 110,000 shares were offered to the public. The bank received an overwhelming response, as it got the subscription for over one billion rupees. —HNS

Mishra in PATA body

KATHMANDU: Pacific Asia Travel Association, Bangkok has recently nominated Basant Raj Mishra, former president of PATA Nepal chapter, as chairman of PATA’s industrial council for the year 2007-08. As the chairman of the council, Mishra holds an automatic seat on the PATA executive committee, states a press release issued here today. Besides, he is represented in the board of director of PATA. This is the first time that a Nepali tourism entrepreneur has been selected as the chairman of the council. As chairman, Mishra is expected to chair the industry council first meeting in Bali, Indonesia in September 2007. — HNS

Salt transportation

BIRGUNJ: Truck entrepreneurs have alleged irregularities in transportation of salt from the Salt Trading Corporation Ltd, Birgunj. Office chief Amod Lamichhane is giving permission only to those transport services and truck owners who give him commissions instead of going through the open bidding process, they said. — RSS