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...