Ncell becomes a public company, renames itself as Ncell Axiata Ltd.
With new state-of-the-art datacenter, Microsoft 365 offerings and the new Ncell Icon headquarters, Ncell is moving to be a public company as Ncell Axiata Ltd to make 2020 a year for them.
Back in 2014, we wrote that all telecom companies in Nepal had to go public as per NTA cross-holding study reports (you can read the report here). In the same context, Ncell has finally gone public and renames itself as Ncell Axiata Limited (previously Ncell Private Limited) starting the month of August 2020. This move of the country’s largest private sector telco has already been noted as a potential for issuance of company shares to the general public.
However, it is too early to comment and expect on company shares being released to the general public as the company Ncell Axiata has not indicated its intention to float its shares to the public offering.
As with the history of the state owned Nepal Telecom, Ncell’s decision to convert itself into a public company has been interpreted as an indication of the company’s plan to offer its shares to the public and list them in the secondary market for the trading. Expectations from the share market are already rising high. The rival NTC (Nepal Doorsanchar Company Limited)’s recent stock market price is valued at NPR 660 per share.
Ncell rebranded itself back in 2016 to reflect the parent company in its logo, and this time the renaming showcases the influence of the Asian telco dominance of Axiata. Ncell has recently shifted its headquarters to Lainchaur and calls its new office building Ncell Icon, and just before COVID-19 they introduced Microsoft 365 products. Looks like 2020 is a big year for Ncell!