KATHMANDU – The Securities Board of Nepal (SEBON) has so far in the current fiscal year granted permission for the sale of ordinary shares (IPO) of a total of 18 companies.
According to the Board, Union Life Insurance Company has been allowed to come up with IPO offerings last time. The company has been permitted to issue 6.45 million units of ordinary shares worth Rs 645 million.
Based on the permission given by the board to date of the current fiscal, a total of Rs 14 billion 342 million 325 thousand 100 ordinary shares is to be issued this year.
Lately, the size of domestic share market has been expanded. As the Board says, the number of beneficiary accounts, which was around 1.7 million at the end of last fiscal year has risen by 100 per cent and exceeded to 3.5 million this fiscal year.
Similarly, the number of my share accounts, which was around 700 thousand, increased by over three folds and reached to 2.6 million.
Of the 500 thousand people used to apply for IPOs in the past and this number has risen to 2.1 million these days. A total of 2 million 84 thousand 762 have applied for the IPO issued by the Jeevan Bikas Microfinance lately.
Likewise, prior to this, 1 million 842 thousand 480 had applied for the Jyoti Life Insurance Company’s ordinary shares. Jeeban Bikas’ sale manager NMB Capital says there is a record of investing in ordinary shares.