Two companies permitted to issue IPO

Kathmandu, Jan.17: The Nepal Securities Board has permitted two companies for Initial Public Offering (IPO). The board has permitted eviction to Om Megashree Pharmaceuticals Limited, Kathmandu, and Crest Micro Life Insurance Company. 

The board issued a notice on Thursday and made it public that permission had been granted. Om Megashree is the first pharmaceutical company in Nepal to get IPO approval.

Om Megashree has received permission from the Securities Board of Nepal (SEBON) to issue 1.8 million shares. 

According to this, the company is going to issue shares worth 180 million rupees. Prabhu Capital has been handed as the share sale manager of the company.

Crest Micro Life has been given permission by the board for an IPO issue of 30 percent of the issued capital. The issued capital of the company is 750 million rupees.

With permission from the board, the company is going to issue 2.25 million shares of ordinary shares worth 225 million rupees, which will be 30 percent of its issued capital, to the general public at the rate of 100 rupees per share.