Kathmandu, August 3:

Security Board (SEBO) Nepal has approved the initial public offering (IPO) of Siddhartha Bank

Ltd, Kathmandu.

SEBO gave permission to issue 1,500,000 ordinary shares worth Rs 150 million.

NIDC Capital Markets and Nepal Merchant Banking and Finance Ltd are the joint issue and sales manager for the public offering.

SEBO also approved an IPO of Srijana Finance Ltd, Lahan worth four million rupees. The finance company got a nod to issue 40,000 shares with a face value of Rs 100 each.