KATHMANDU, Jan. 30 -- Nepal Chamber of Commerce (NCC) has urged the Securities Board of Nepal (SEBON) to restrict permitting issuance of initial public offerings (IPOs) by those companies which practice manipulation of their financial statements.

The umbrella organisation of the private sector has sought the intervention of the regulator on the matter citing the growing trend of companies in financial loss to go into public to generate huge amounts of capital from the market. Speaking at a program on Wednesday, NCC President Kamlesh Kumar Agrawal said a number of poorly performing companies have been looking forward to gathering huge money from issuing their primary shares.

Agrawal informed that the country's share market is reeling un...