KATHMANDU, May 27: A total of 21 companies have been waiting to receive approval from the Securities Board of Nepal (Sebon) to issue their initial public offerings (IPOs) worth Rs 19.81 billion.
According to the Sebon, 21 companies have been looking forward to issuing 98,634,030 units of primary shares. Of them, Sarbottam Cement and Reliance Spinning Mills have targeted to issue their primary shares through book building process.
Sarbottam Cement has sought approval to issue 2.4 million shares at per unit share price between Rs 501 and Rs 751.50. Similarly, Reliance Spinning Mills has been waiting for the regulator’s approval to float 770,640 units of its shares at the price between Rs 608 and Rs 912 per share.
Among the 21 companies, four are the insurance companies that will be issuing IPOs at the premium rates. Reliable Nepal Life Insurance is floating 12 million units of its shares at the rate of Rs 212 per share.
Citizen Life Insurance will be offering its 11,250,000 shares at the rate of Rs 290 per share. IME Life Insurance is coming up with 12 million units of its shares for Rs 276 per share and Sun Nepal Life Insurance will be offering 9.6 million units of its shares for Rs 250.55 per share.
Likewise, Upper Lohare Hydropower Company, Mandu Hydropower Limited, Bhagwati Hydropower Development Co Ltd, Accord Pharmaceuticals Limited, Manakamana Engineering Hydropower Limited and Mid-Solu Hydropower Ltd have also been waiting for the Sebon’s approval. Muktinath Krishi Company, Sonapur Minerals and Oil, Dish Media Network, Hathway Investment Nepal, Trade Tower Ltd, Vision Lumbini Urja Company, Chirkhwa Hydro Power, Mathillo Mailun Khola Jalvidhyut and Nepal Warehousing Company are also on the pipeline to issue their primary shares.