SEBON adds 5 lakh units IPO of Emerging Nepal; PPP company to invest in projects from diverse sectors

Sun, Jul 7, 2019 2:45 PM on IPO/FPO News, Latest, Stock Market,
SEBON adds...

Securities Board of Nepal (SEBON) has added IPO of Emerging Nepal in its pipeline. The company will be issuing 5 lakh unit shares worth Rs 5 crore in the IPO.

NIC Asia Capital has been appointed as the issue manager.

ICRA Rating has assigned IPO Grade 4 to the proposed IPO of Emerging Nepal.

Emerging Nepal Limited (ENL) was established on August 2015 as a public private partnership (PPP) investment company with the motive to invest in projects from diverse sectors. ENL is promoted by the renowned business groups of Nepal, with the major holding by the Vishal Group and IME Group affiliated entities and individuals with joint stake of more than 50%. Other promoters include industrialists, bankers, and professionals from diverse backgrounds. The Government of Nepal, represented by the Ministry of Finance, also currently holds a nominal stake at 0.5%.