Kathmandu, Nov. 15 -- The government plans to allow hydropower companies with projects under construction to issue initial public offerings (IPOs) only after completing at least 50 percent of the physical work.

The provision is included in the draft of an ordinance to amend certain Nepal laws relating to investment and infrastructure, which the government is preparing to issue.

The draft proposes amendments to several laws, including the Securities Act 2006.

Under the proposed provision, a company developing a hydropower project would be eligible to apply for a public share offering once the project has achieved at least 50 percent of its certified physical progress and meets other requirements for a public issuance. The application ca...