Sixteen companies, including Century Commercial Bank and Upper Tama
Koshi Hydropower Company, have filed application at the Securities Board
of Nepal (SEBON) seeking permission to issue their Initial Public
Offer, which collectively stands at around Rs 16 arba.
SEBON, the regulatory body, has informed that it was minutely studying the financial health of these companies.
Century Commercial Bank, the only commercial bank which is yet to issue its IPO, is among them. It wants to float the IPO worth Rs 92 crore, according to SEBON officials.
As the credit rating is mandatory for any company with a net worth of more than Rs 3 arba, ICRA Nepal is currently conducting the study for Century Commercial Bank’s rating.
But the share analysts claim that all eyes would be on the Upper Tamakoshi project. The 456 MW project has applied for the IPO worth Rs 2 arba and 54 crore.
Three hydropower companies that issued the IPO in the past – Chilime, Arun Valley and Butwal Power Company—have already started to offer impressive dividends.
The fourth company listed under the hydropower subgroup, National Hydropower Company, has not been able to give dividend due to its management’s negligence. Sanima Mai Hydropower’s IPO issued just a few days back was oversubscribed by more than 25 times.
Rights issue worth Rs 7 arba, too, in the offing
The SEBON also informed that 33 companies have sought permission to distribute rights shares to their shareholders.
A company which has already issued its IPO can issue its rights shares to soar its capital.
Though finance and insurance companies are among the majority that have applied to issue the rights shares, some of them also include the finance companies, which have already merged.
They include Standard Finance and IFI Financial Institution, which are yet to be removed from the list of companies that can issue the rights shares.
-sharesansar
SEBON, the regulatory body, has informed that it was minutely studying the financial health of these companies.
Century Commercial Bank, the only commercial bank which is yet to issue its IPO, is among them. It wants to float the IPO worth Rs 92 crore, according to SEBON officials.
As the credit rating is mandatory for any company with a net worth of more than Rs 3 arba, ICRA Nepal is currently conducting the study for Century Commercial Bank’s rating.
But the share analysts claim that all eyes would be on the Upper Tamakoshi project. The 456 MW project has applied for the IPO worth Rs 2 arba and 54 crore.
Three hydropower companies that issued the IPO in the past – Chilime, Arun Valley and Butwal Power Company—have already started to offer impressive dividends.
The fourth company listed under the hydropower subgroup, National Hydropower Company, has not been able to give dividend due to its management’s negligence. Sanima Mai Hydropower’s IPO issued just a few days back was oversubscribed by more than 25 times.
Rights issue worth Rs 7 arba, too, in the offing
The SEBON also informed that 33 companies have sought permission to distribute rights shares to their shareholders.
A company which has already issued its IPO can issue its rights shares to soar its capital.
Though finance and insurance companies are among the majority that have applied to issue the rights shares, some of them also include the finance companies, which have already merged.
They include Standard Finance and IFI Financial Institution, which are yet to be removed from the list of companies that can issue the rights shares.
-sharesansar
No comments:
Post a Comment