KATHMANDU, Aug 16: Sixteen companies are seeking approval of the Securities Board of Nepal (Sebon) to float their primary shares worth Rs 4.45 billion.
Those seeking approval to float primary shares include nine hydropower companies, two insurance companies, one merchant bank and four from the other sector. The hydropower companies are coming up with the primary shares worth Rs 3.09 billion in total.
The biggest IPO is from Madhya Bhotekoshi Jalvidyut Co. Ltd, which plans to float 15 million units of shares worth Rs 1.50 billion. Two insurers including General Insurance Company Nepal and Sanima General Insurance will be floating IPOs worth Rs 300 million each.
According to the record of the Sebon, applications for the initial public offering worth Rs 803.28 million of four companies are under its preliminary review.
Similarly, Sebon has reviewed the applications of five companies for floating 6.63 million unit primary shares and sent them its comments on their applications. These companies have sought permission of the Sebon for issuing primary shares worth Rs 663.97 million.
Likewise, applications from seven other companies are under review process of the Sebon. The companies looking to issue IPOs worth Rs 2.98 billion are in process of fulfilling the compliances required by the regulator before they are allowed to float the primary shares.