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A book titled 'Financial Freedom' written by stock market analyst Ravindra Bhattarai has been released. Author Bhattarai, SEJN president Sujan Oli and SEJN former president Gokarna Awasthi jointly released the book during an event organized by Nepal Economic Journalists Society (SEJN).
Bhattarai, the author, said that the book contains ways to become financially independent and how to achieve more progress through it.
During the discussion, writer Bhattarai said that companies should issue initial public offering (IPO) with face value less than one hundred rupees. He is of the opinion that the number of issued shares can be increased by reducing the face value. "IPO can be issued even at the rate of one rupee, the required capital will be collected after increasing the number of shares," he said.
Similarly, he was of the opinion that access to expensive companies could be increased by doing 'stock split' from time to time. A 'stock split' is an expensive company issuing more shares and reducing the price accordingly. Bhattarai says that
companies should be allowed to distribute dividends not only annually but also quarterly. Presenting an example of companies in other developed countries giving monthly cash dividends, he said, 'In Nepal, it can be arranged to give dividends at least quarterly, the income of companies in some sectors including hydropower is certain.'
The government-owned Nepal Stock Exchange has not been able to expand the developed technology and capacity in the capital market, so there is a need for a private sector stock exchange. He said, "In Nepal, when it is owned by the government, the board is appointed by the government, including the chairman, it cannot make independent decisions."
In other countries, although institutional investors drive the market, the number of institutional investors in Nepal and the capacity of existing institutions are also weak, he said. Similarly, he said that there is a need for a system to be able to do business in the index as well. "There was a time to prepare to run the NEPSE 30 index, but it was closed," he said.
He clarified that the activity of suggesting certain companies to buy or sell from various social networks is wrong. "Even in countries including Canada, if someone suggests a company and causes a loss, action will be taken including compensation," he said.
