Migrant workers to get 10 pc IPO reservation

Kathmandu: Those who went for foreign employment with work permit will get 10 percent reservation in the initial public offering of securities (IPO).

With the approval of the Government of Nepal, the Nepal Securities Board issued the Securities Registration and Issuance (Sixth Amendment) Regulations 2022.

The regulation has been amended so that when the concerned person applies for the shares issued in this way, payment should be made only through the remittance savings account in a bank or financial institution authorized to collect securities purchase applications from the board.

It is mentioned that if the shares allocated for reservation remain unsold, such shares should be added to the general group and issued.

The revised regulation provides that securities organized organizations owned by private equity, venture capital, hedge funds or similar funds registered with the board or abroad can sell the shares after the completion of a period of one year from the date of allotment of primary public issue shares to the general public.

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