Prabhu Life Insurance, Dish Media Network, Chandragiri Hills along with nine hydropower producers start process to float primary shares to the public
KATHMANDU, Oct 30: Fifteen companies are in the process of floating their 44.47 million units of primary shares to the public.
According to the Securities Board of Nepal (Sebon), these 15 companies plan to raise Rs 4.46 billion through their initial public offering (IPO).
Most of these companies going to the public to raise capital are hydropower producers. The data shows that nine hydropower companies have sought Sebon’s approval to sell their shares to the public. While some of them are still under preliminary review, Sebon has sent comments and sought some required documents from other companies.
The IPOs of Ru Ru Jalbidhyut Pariyojana Ltd (815,411 units), Shuvam Power Ltd (580,580 units), Terhathum Power Company Ltd (1.2 million units) and Himalayan Hydropower Ltd (2.25 million units) are in the pipeline, according to Sebon.
Bindhyabasini Hydropower Ltd (2.5 million units), Mailung Khola Jal Vidhyut Company Ltd (736,286 units), Greenlife Hydropower Ltd (3.5 million units), Singati Hydro Energy Ltd (4.35 million units) and Madhya Bhotekoshi Jalvidyut Company Ltd ( 15 million units) have also sought Sebon’s approval to float their IPOs.
Prabhu Life Insurance Ltd IPO is also in the process of being floated. The insurance company has applied for floating six million unit primary shares to the public.
Dish Media Network Ltd, a direct-to-home (DTH) broadcasting service provider, is also going to raise Rs 238.59 million by selling 2.39 million unit primary shares to the public.
Chandragiri Hills Ltd, the operator of cable car service to Chandragiri Hills, has also sought Sebon’s approval for its public offering. It plans to float 1.84 million units of primary shares to the local people and general public to collect Rs 184.09 million.
CBIL Capital Ltd (300,000 units) and Emerging Nepal Ltd (500,000 units) are two other public companies under the IPO process.