SEBON approves the IPO of 6 Companies:
The Nepal Securities Board (SEBON) has allowed six companies to issue IPOs at the same time after five months.
The process of IPO approval, which was halted after Buddhabhumi Nepal Hydropower was allowed to issue IPO on July 29, has been resumed. The board has given permission for IPO issuance to Balefi Hydropower, Green Ventures Limited, Jalpa Community Microfinance Institution, Rashtra Utthan Microfinance Institution, Nashdo Prosperous Microfinance Institution and Emerging Nepal.
Balefi Hydropower Limited is going to issue Rs 100 per share (36,55,940 ordinary shares at face value (including locals) to the public. The company has appointed Global IME Capital Limited as the issue and sale manager. Nepal has given IPO grade four plus rating.
Green Venture Hydropower Company is going to issue IPO. The company is to issue 6.25 million IPOs worth Rs 625 million. Lakshmi Capital is the manager of IPO issue and sale of the company. The project is invested by Triveni Group and Vishal Group. Seven banks led by Nabil Bank have invested Rs 7.62 billion in the project. An application for IPO expulsion was submitted to the Board on March 11, 2008.
NESDO Laghubitta Bittiya Sanstha Ltd is going to issue initial public offering (IPO) to the public. The board has reached out seeking permission to issue 8 lakh 28 thousand 750 shares equal to Rs. 82.8 million. Global IME Capital is the manager of the share issue and sale of microfinance.
Jalpa Samudayek Laghubitta Bittiya Sanstha Limited is going to issue IPO to the public. The current paid up capital of the organization is 107.8 million. After the issuance of additional 522,000 ordinary shares to the general public, the paid up capital will be Rs. 160 million. The company has appointed Prabhu Capital Limited as the share issue and sale manager for the IPO issue.
Rashtra Utthan Laghubitta Bittiya Sanstha Limited is going to issue IPO. The organization is preparing to issue an IPO worth Rs 85 million. The company will issue a total of 850,000 IPOs at a face value of Rs 100. NIBL has appointed S Capital as the sales manager for the public offering.
Emerging Nepal Limited is going to issue an IPO worth Rs 50 million. The company is to issue 500,000 ordinary shares at a face value of Rs 100 each. NIC Asia Capital Limited will act as the IPO issuance and sales manager for the 500,000 shares to be issued to the company’s employees and the general public.