NEPSE Resumes Delayed Listings; IPOs to Be Cleared Together, Bonus and Rights Shares May Face Hurdles
After a month-long halt due to employee protests, NEPSE resumes delayed listings, with several IPOs scheduled together. Bonus and rights shares may still face delays.
Nepal Stock Exchange (NEPSE) has resumed the listing of companies after a two-month delay, triggered by employee protests over administrative issues. The stoppage had left several primary share issuances, bonus, and rights share listings pending.
According to NEPSE regulations, companies should be listed within seven days of a completed application, and bonus or rights shares within 15 days. However, since last Bhadra, no issuances had been listed due to the absence of NEPSE’s chief executive, Chudamani Chapagain, who had stayed away from the office amid ongoing staff agitation.
Currently, seven companies are in line for listing, having already submitted applications. These include Mabillung Energy (IPO allotment on Bhadra 8), Swastik Laghubitta (Bhadra 12), Bandipur Cable Car (Bhadra 30), Bungul Hydro (Asoj 2), Jhapa Energy (Asoj 8), Sagar Distillery (Asoj 12), and Srinagar Agritech (recent IPO allotment). Srinagar Agritech has yet to submit a listing application.
With staff protests paused following Wednesday’s management-employee discussion, NEPSE’s chief executive has returned to work, enabling pending listings to proceed. The backlog will be cleared promptly, with the seven companies expected to be listed together in the coming days.
However, challenges remain for the listing of bonus and rights shares, as these require registration with the Securities Board of Nepal (SEBON). SEBON staff are also currently on strike. The recent presence of SEBON’s chairman at the office, accompanied by police, indicates a potential resolution, which may allow the registration process to resume and reduce delays in bonus and rights share listings.
This resumption marks a critical step for restoring investor confidence and normalizing operations in Nepal’s capital market, which had been disrupted for over a month.