Kathmandu. In the last two months (April and May), five companies have applied to the Nepal Securities Board (NSB) seeking permission to issue public shares (IPO). Of these, two are hydropower, two are insurance and one is microfinance.

The company has applied to the board to sell more than 177.95 million shares worth more than Rs 1.77 billion. The board is currently conducting a preliminary review of the companies' applications.

Of the companies that applied during the period, Union Life Insurance Company applied for the largest number of shares. The company has mentioned that it will issue 650,000 shares worth Rs. 645 million. Prabhu Capital Limited is the sales manager of the company.

Similarly, Sanima Life Insurance has applied to the board for the issue of 600,000 shares worth Rs 600 million, of which Prabhu Capital is the sales manager.

Other companies include Manushi Microfinance Financial Institution (393,750 lots), Dordikhola Hydropower (29,51,929 lots) and Upper Hewakhola Hydropower Company (2 million lots), the board said.