First Business News Portal in English from Nepal
KATHMANDU: As many as 24 different companies are set to issue their initial public offerings (IPOs) worth Rs 6.5 billion in shares, according to the Securities Board of Nepal Strategic Plan (SEBON). Among the companies offering their IPOs, 14 are hydropower companies, six are microfinance companies, two are insurance companies and two others.
According to SEBON, the companies have been asked to issue IPOs worth Rs 50.9 million each. A total of Rs 6.6 billion worth of IPOs will be issued from the companies. The companies in the pipeline will issue IPOs as soon as they get permission from the board. The IPO has to be issued within two months of the board’s approval.
Sayapatri Hydropower is preparing to issue as many as 900,000 shares worth Rs 90 million while Molung Hydropower has already appointed a sales manager to issue 350,031 shares worth Rs Rs 353 million. Similarly, Three-star hydropower company will issue over 1.2 million shares worth Rs 120 million. Rapti Hydropower is also set to issue 1.9 million ordinary shares worth Rs 294 million.
Likewise, Swetganga Hydropower is also preparing to issue 4.7 million ordinary shares worth Rs 477 million, while Mandakini Hydropower is ready to issue 1.7 million shares worth Rs 170 million.
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