Sebon permits five companies to float their IPOs four months after its former chief Dhungana was sacked

Published On: January 22, 2022 06:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 22: The Securities Board of Nepal (Sebon) has given permission to five companies to float their primary shares this week.

With the government delaying to appoint the Sebon chief, the regulator had long put on hold a number of companies from issuing their initial public offerings (IPO). The government sacked the then Sebon Chairman Bhisma Raj Dhungana on October 5 after he was found guilty for carrying out the insider trading.

Niraj Giri, executive director of Sebon, said the board approved three microfinance and two hydropower companies to issue their IPOs. Among microfinance, Jalapa Samudayik Laghubitta Bittiya Sanstha has been permitted to issue 522,000 units of primary shares.

Similarly, Nesdo Sambridha Laghubitta Bittiya Sanstha will be issuing 828,750 units and Rastra Utthan Laghubitta Bittiya Sanstha will be issuing 850,000 units of primary shares. Likewise, Balefi Hydropower Limited and Green Ventures Limited have been given permission to float 3,655,940 units and 6,250,000 units, respectively, of their IPOs.  

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