Kathmandu. The Nepal Securities Board has opened its mouth after the issue of asking for up to 7 percent commission in the IPO approval process of hydropower companies came to light. On Tuesday, the board’s spokesperson, Niranjay Ghimire, issued a statement denying the news. He accused those who were panicked by the market reform efforts of spreading misleading rumors. The board spokesperson has also requested that if anyone receives information that a commission has been asked for in the name of the board chairman or has committed other illegal activities, they should report it with facts.
Power producers are accusing middlemen of asking for up to 7 percent commission for IPO issuance in the name of the board chairman.
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