KATHMANDU, Feb 21: The Independent Power Producers' Association, Nepal (IPPAN) has urged the parliamentary Public Accounts Committee (PAC) to rectify its directive to ban the issuance of Initial Public Offering (IPO) of companies with net worth less than Rs 90 per share.
IPPAN urges Finance Committee to revoke PAC's IPO net worth res...
IPPAN wrote a letter to PAC chairman Rishikesh Pokharel on Friday, requesting the house panel to amend its decision, stating that hydropower companies have been deprived of raising capital to forward the projects due to the PAC’s directive. The PAC had directed the Securities Board of Nepal (SEBON) on December 28, 2023, not to grant permission for IPO issuance to companies with a net worth less than Rs 90 per share. As a result, SEBON has not granted permission in compliance with the directive. The applications of over two dozen hydropower companies with net worth of below Rs 90 per share have been put on hold.
