Nepal Oil Corporation to issue an IPO for the general public; says Umesh Prasad Thani.

Nepal Oil Corporation's Managing Director Er. Umesh Prasad Thani has revealed preparations for an IPO (Initial Public Offering) for the general public. Speaking at the 28th Annual General Meeting of the Nepal LP Gas Industry Association on Tuesday, he mentioned the following:

He stated that after the issuance of the Securities Registration and Issue Regulation, 2073, which was amended for the 7th time in 2080, a requirement of having a profit for at least two fiscal years had been introduced before the IPO could be issued. He emphasized that the IPO would only be released when the Corporation could show a profit for at least two fiscal years.

He also mentioned the intention to make the general public shareholders in the Corporation. He indicated plans to turn the public into owners through the IPO. He expressed the intention to make businesspeople stakeholders and to prepare for the IPO for the general public.

He pointed out that various legal aspects would take some time. He assured that the corporation would not become ruthless towards the gas business. He emphasized that the government would address the demands of businessmen in a timely manner.

Regarding the country's economy, he mentioned that Nepal Oil Corporation had implemented the Automated Pricing Mechanism (APM) from Asar 31 of fiscal year 2080. He suggested that it was necessary for everyone, including the public, businesspeople, and other sectors, to accept this mechanism.

He also stated that even after the implementation of the automated pricing, the corporation would remain profitable, even if it had minimal profits.

So, in summary, Umesh Prasad Thani, the Executive Director of Nepal Oil Corporation, revealed plans to prepare for an IPO for the general public and expressed the intention to make the public shareholders in the Corporation.