KATHMANDU, A total of 34 listed companies have been waiting for the approval of the Securities Board of Nepal (SEBON) to float their primary shares in the market.
According to the SEBON, these companies are looking forward to issuing 166,198,297 units of their initial public offerings (IPOs) worth over Rs 27.52 billion. Of these, Hospital for Advanced Medicine and Surgery (HAMS), Shaurya Cement Industries, Maruti Cements and Jagdamba Steels have applied to issue their IPOs at premium prices.
Half of the companies in the pipeline for issuing their IPOs are related to the energy sector. These include Yambaling Hydropower Limited, Bikash Hydropower Company, Ridge Line Energy, Laughing Buddha Power Nepal, Kalinchowk Hydropower, Him River Power Ltd and Beni Hydropower Project. Sanima Hydropower, Bhujung Hydropower Limited, Solu Hydropower, Sanvi Energy Limited, Him Star Urja Company, Richel Jalbidhyut Company, Mabilung Energy Limited, Taksar Pikhuwa Khola Hydropower, Pure Energy and Daramkhola Hydro Energy Ltd are among others.
Dish Media Network, Apex Hospitality, SY Panel Nepal, Orchid Holdings, Annapurna Cable Car, Barun Investments, Swastik Laghubitta Bittiya Sanstha Limited, Accord Pharmaceuticals Limited, Trade Tower, Kantipur Television Network, IME Limited and Hotel Forest Inn are also in the list.
In the first seven months of the current fiscal year, SEBON approved seven companies to issue their IPOs. They were Sonapur Minerals, Vision Lumbini Urja, Muktinath Krishi Company, Nepal Warehousing Company, Reliance Spinning Mills, Sarbottam Cement and Himalayan Reinsurance Limited.
According to the officials of the SEBON, the approvals of IPOs have been hindered due to the delay in the appointment of a new chairperson of the sector’s regulator. Since former SEBON Chair Ramesh Hamal concluded his tenure on January 5, the position has remained vacant till date.
Currently, eight individuals have expressed their interest in the chairmanship of the SEBON. Among them, the high level officials of the SEBON including Mukti Shrestha, Navaraj Adhikari and Krishna Pokharel, former CEO of Nepal Stock Exchange (NEPSE) Chandra Singh Saud, former chairman of Nepal Insurance Authority Chiranjibi Chapagain, former executive officer of the SEBON Niraj Giri, former deputy governors of Nepal Rastra Bank Shivaraj Shrestha, and Chintamani Shiwakoti are reported to be the major contenders for the post.
Source: Republica
