KATHMANDU, August 13: A total of 29 companies have been waiting for approval of the Securities Board of Nepal (Sebon) to issue their initial public offerings (IPOs) worth over Rs 10 billion.
Of the applicants, 16 are hydropower companies, three are manufacturing and processing, two each are microfinance, hotel and tourisms and insurance companies and one is an investment company. Similarly, three applicant companies are related to agriculture business, media and business complex, according to the records with the Sebon.
Reliable Life Insurance is waiting for the Sebon’s go ahead to issue its IPOs worth Rs 1.27 billion– the largest of all in terms of the amount of shares the company is floating to the public. The insurer along with Ghorahi Cement has sought to issue their primary shares in premium values. Likewise, Sarbottam Cement and Reliance Spinning Mills have been looking forward to issuing their primary shares via book building process.