KATHMANDU: Securities Board of Nepal (SEBON)) has resumed the long-stalled process of granting permission for the issuance of Initial Public Offerings (IPOs). Recently, the board approved two companies to sell ordinary shares, signaling progress in the country’s stock market activities.
Crest Micro Life Insurance Limited has been granted permission to issue 2.25 million ordinary shares worth Rs 225 million. NIMB Ace Capital will act as the share sale manager for this issuance. Similarly, Om Megashree Pharmaceuticals has received approval to sell 1.8 million ordinary shares valued at Rs 180 million, with Prabhu Capital managing the share sale.
Together, these approvals account for 4.05 million shares worth Rs 405 million, reflecting the board’s efforts to revive IPO activities.
In addition to approving these companies, the board has implemented the Securities Issuance and Transaction Regulations for Small and Medium Enterprises. This regulatory framework facilitates the issuance of shares by SMEs, a move aimed at expanding the stock market and fostering investment opportunities for smaller businesses.
SEBON has also received applications for the issuance of 355.037 million shares valued at Rs 51.11 billion. These pending applications highlight a substantial pipeline of potential market activities.
Comment