- Fonepay prepares to become the first fintech company in Nepal to go public.
- NMB Capital has been engaged as a consultant to provide tailored IPO advisory solutions to Fonepay.
- FonePay will complete preliminary work and launch its IPO after obtaining regulatory approval.
Fonepay, a payment system operator (PSO) in Nepal, has taken the first steps towards issuing an Initial Public Offering (IPO) by entering into an agreement with NMB Capital Limited, a merchant banker.
This announcement was made on May 25, 2023, as Fonepay prepares to become the first fintech company in Nepal to offer an IPO and enter the Nepal stock market.
“Taking Fonepay public has been a dream that we have strived to achieve since we started.,” said Diwas Kumar, CEO of Fonepay, during the MOU signing ceremony.
“We are not just looking to go public, but also to inspire all tech companies in Nepal and set a benchmark. We believe that NMB Capital is the right partner for this and is capable of providing the guidance and support we require to achieve this dream.”
By signing the agreement with Fonepay, NMB Capital will leverage its expertise and strengths to deliver tailored IPO advisory solutions, enabling Fonepay to initiate the necessary preparations for issuing its common stocks to the general public.
Once the preliminary work is completed, FonePay will seek the required approval from regulatory authorities and then launch its IPO.
The partnership between Fonepay and NMB Capital signifies a collaborative effort to support Fonepay in effectively planning and navigating the complexities of the IPO process.
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