The number of companies applying for approval to issue rights shares, ordinary shares and debentures has increased by 14 to 37 over a couple of months. With the new proposals, the total number of shares in the pipeline has reached over 76.6 million.
New companies seeking permission from SEBON include Capital Merchant Banking and Finance, Butwal Finance, Sunrise Bank, Premier Finance, Nepal Share Markets and Shubhalaxmi Finance.
Likewise, Everest Finance, Excel Development Bank, Fewa Finance, Crystal Finance, Narayani Development Bank, Ace Development Bank, DCBL Bank, Saniman Bikash Bank and Kuber Merchant Bittiya Sansthan have also applied for permission to issue shares.
SEBON said 11 companies including four finance companies, two hydropower companies, three development banks and two commercial banks applied for issue of ordinary shares worth Rs 191.4 million.
Similarly, 25 companies -- 16 finance companies, two insurance companies, six development banks and one commercial bank -- have sought permission to issue rights shares amounting to Rs 6.25 billion.
Salt Trading Corporation -- a state undertaking -- applied to issue 500,000 debentures worth Rs 500 million.
As per existing provisions, companies seeking approval from SEBON to issue rights shares and ordinary shares have first to get the approval of their respective boards of directors.
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