Still waiting for Panchakanya Mai’s IPO and Nepal Bank’s FPO to get listed? Here is what is happening

Thu, Sep 6, 2018 3:04 PM on IPO/FPO News, Latest, Share Listed, Stock Market,
Still wait...

After the feud was settled between NEPSE and SEBON regarding the listing fees, all the pending shares have started to get listed barring out two scrips i.e. FPO of Nepal Bank Limited and IPO of Panchakanya Mai Hydropower Company.

1,76,84,858 unit shares of Nepal Bank and 11,00,000 unit shares of Panchakanya Mai Hydropower have not been listed in the stock market.

As per the information provided by NEPSE, the companies have not yet applied for their shares to get listed.

Sunrise Capital, issue manager of Panchakanya Mai responded that the company is making some amendments to its financials due to which the listing has been delayed and the listing might be done within the next week.

In Nepal Bank’s case, the delay has been particularly due to the delay of the amount to be received from the underwriters. As of now, it has been reported that the underwriters have made the payment and the listing is underway.

Is there any provision regarding listing of shares?

As per the Securities Issue Guidelines, 2065, a company should apply to get listed in the respective market within 30 days of allotment.

The shares of Panchakanya Mai was allotted on Shrawan 11 while the FPO Nepal Bank was allotted on Shrawan 20. Both the companies have exceeded the 30 days mark.

But as both the companies have been reported to be listing their shares soon, it will be a good news for the shareholders of the respective companies.