Kathmandu, March 7
The minimalistic regulations regarding the Initial Public Offering (IPO) management keep stirring up confusions in the capital market and this time lack of functional clarity might delay the approval of Upper Tamakoshi Hydropower's issue worth two-and-a-half billion rupees.
The hydro project that had applied for approval for its IPO at Securities Board of Nepal (Sebon) ¿ capital market regulator ¿ in August, has not yet been granted approval. As a first phase of raising 49 per cent of capital through share issuance, the project has planned to issue 25.4 million unit shares allocated to locals residing in the project affected areas and employees of the promoting institutions.
The minimalistic regulations regarding the Initial Public Offering (IPO) management keep stirring up confusions in the capital market and this time lack of functional clarity might delay the approval of Upper Tamakoshi Hydropower's issue worth two-and-a-half billion rupees.
The hydro project that had applied for approval for its IPO at Securities Board of Nepal (Sebon) ¿ capital market regulator ¿ in August, has not yet been granted approval. As a first phase of raising 49 per cent of capital through share issuance, the project has planned to issue 25.4 million unit shares allocated to locals residing in the project affected areas and employees of the promoting institutions.
