KATHMANDU: To ease the credit crunch, which has hit not only the banking sector but the country’s secondary market as well, the Securities Board of Nepal (SEBON) has asked the issue managers of recently issued IPOs and FPOs to quickly allot the respective shares.

The securities market regulator has issued a directive to Siddhartha Capital to allot further public offering (FPO) of Nepal Life Insurance Company within 40 days (February 24) as against the stipulated period of 60 days from the date of issuance of the FPO. Similarly, it has asked Nabil Investment Banking to allot initial public offering (IPO) of Forward Community Microfinance Cooperative within 30 days (February 24) as against stipulated period of 50 days from date of issuance of the IPO.

In a press statement issued on Thursday, SEBON has said that this step will help bring back the Rs 55 billion that has been lying idle into the market and help ease credit crunch.