Permission to issue Rs 27.6 billion worth of public offering

Kathmandu / Feb 6: The Securities Board of Nepal (SEBON) has given permission to issue an initial public offering worth Rs 27.76 billion in the past six months of the current fiscal, said data published by the Board.

According to data made public amid a programme today, there is an increase in both acquiring permission to launch IPO and its collected amount as well in the same period as compared with the correspondent period last year.

So far this year, a total of 46 companies have taken permission to issue IPO.

Likewise, permission has been granted to various nine companies to issue Initial Public Offering (IPO) equivalent to Rs 2.86 billion, while the three companies have permission to release Follow on Public Offer ( FPO) of Rs 2.67 billion.

In a bid to facilitate IPO issuance, the Board will provide permission to issue IPO within seven days of the submission of required documents, said the Board’s Spokesperson Niraj Giri.

Out of various 15 companies that have applied for IPO issuance permission, study of the documents submitted by the five companies is being conducted, and corrections have been recommended for the other 10 companies, he said.

Likewise, out of the total 17 companies that have applied for issuing right shares, the process is underway to grant permission to three of them, he said.

The 15 companies and 17 companies are in the process to issue rights shares worth approximately Rs 3.90 billion, and Rs 11.76 billion respectively. RSS