KATHMANDU, Sept 28: A total of 20 companies have been waiting to receive approval to issue their initial public offerings (IPOs) worth Rs 5.90 billion.
Of the companies waiting for a go ahead from the regulatory body, 12 are hydropower plants, four are microfinance and two are insurance. Reliable Life Insurance is looking to issue 6,000 units of IPOs worth Rs 1.27 billion, the largest of all. The insurer has planned to float its IPOs at the premium price of Rs 212 per share, shows the records with the Securities Board of Nepal (Sebon).
Similarly, IME Life Insurance Company has also sought Sebon’s approval to float six million units of the primary shares, with a total valuation of Rs 600 million.
Of the hydropower companies, Green Ventures Limited has stepped up to issue its IPOs worth Rs 625 million. Similarly, Balephi Hydropower looks to float primary shares of Rs 365.59 million in public.
According to the Sebon, four microfinance companies have sought to issue 2,467,000 units of IPOs totaling Rs 246.70 million.