SEBON resumes IPO approvals after five months

Kathmandu, November 25 — After nearly five months, the Securities Board of Nepal (SEBON) has granted permission for the issuance of an IPO (Initial Public Offering).

On Sunday, the board approved Guardian Life Insurance to issue 22.5 million shares.

Previously, former chairperson Ramesh Hamal had authorized several companies to issue IPOs until January 4.

However, after Hamal's retirement, the IPO issuance process had stalled. In June, Reliance Spinning Mills was permitted to issue IPOs at a premium price.

Nevertheless, the issuance was halted following directives from the Public Accounts Committee. This time, approval has been granted to issue IPOs at the par value.

Currently, three candidates have been recommended for the position of Chairperson of the SEBON. The IPO process, which had been stalled for 10 months, has now resumed as a new chairperson is set to assume office.