Worldlink Communications, Nepal’s largest internet service provider, is set to issue ordinary shares (IPO) soon. WorldLink Communications has been transformed into a public company to issue an IPO. Dilip Agrawal, chairman of the company, said that the company was transformed into a public company last year and started the related official procedure to issue IPO.
According to the Companies Act of the Nepal Government, a telecommunication service provider with a paid-up capital of more than Rs 50 million has to issue an IPO. WorldLink is about to issue an IPO as per the rules. As it will take three years to complete the IPO issuance process, the IPO will be issued within that period, said Chairman Agrawal. Chairman Agrawal did not say how much IPO would be issued.
WorldLink is the largest private Internet service provider. According to the Nepal Telecommunication Authority, WorldLink consumes 43 percent of the total internet bandwidth in the country. Currently, the company says that one out of every three users in Nepal is a user of WorldLink.
In just 25 years, WorldLink has been providing internet service in 73 districts of the country with FTTH technology. WorldLink currently has 400,000 households as well as 10,000 corporate and government customers. Launched in 2014 with a plan to invest Rs 1 billion, the FTTH infrastructure has taken the company to new heights.