KATHMANDU, Sept 24: The Securities Board of Nepal (SEBON) has stepped up to make the shareholders with substantial number of shares of companies listed on the Nepal Stock Exchange (NEPSE) to provide advance notice before selling a significant portion of their shares.
Publishing a concept paper on Wednesday, the SEBON has proposed to enforce the provision making any substantial shareholder of a NEPSE-listed company intending to sell 5 percent or more of their shareholding to notify the concerned company at least 15 days before the proposed sale.
SEBON grants permission to Machhapuchhre Capital for de-listing...
According to SEBON, the advance disclosure mechanism is intended to ensure equal access to information for all investors and help them make informed investment decisions.
The regulator said the mechanism would also allow the market to anticipate potential supply, detect unusual price movements and strengthen surveillance of possible securities-related offences and market abuse.
