KATHMANDU, Jan 18: The process of granting permission for the issuance of ordinary shares, which had been stalled for a long time, has resumed. The regulatory body, Securities Board of Nepal (SEBON), recently approved two companies to sell ordinary shares.
The SEBON granted permission to Crest Micro Life Insurance Limited and Om Megashree Pharmaceuticals to sell ordinary shares. On January 17, the SEBON approved Crest Micro Life Insurance to issue 2.25 million ordinary shares worth Rs 225 million. NIMB Ace Capital manages the company's share sale.
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Similarly, the SEBON authorized Om Megashree Pharmaceuticals to sell 1.8 million ordinary shares worth Rs 180 million. Prabhu Capital is managing the sale for the company. Altogether, the SEBON approved the sale of 8.55 million ordinary shares worth Rs 855 million by these companies.
Similarly, the SEBON implemented the Securities Issuance and Trading Regulations for Small and Medium Organized Entities 2081. These regulations open a pathway for small and medium institutions to sell ordinary shares. They are considered significant for expanding the stock market.
So far, applications have been received for the sale of 355.38 million ordinary shares worth Rs 51.11 billion.
