SEBON and investors discuss 15-day notice rule, decision awaits chairman's return
SEBON held discussions with investors regarding the rule requiring 15 days' prior notice for selling 5 percent or more shares. Investors demanded a correction, saying the rule has caused panic in the secondary market. A final decision will be made only after the chairman returns.
Nepal Securities Board (SEBON) held discussions with investors regarding the rule requiring 15 days' prior notice for selling 5 percent or more shares. Investors who visited SEBON on Tuesday demanded its removal, saying the rule has caused significant panic in the stock market.
Representatives of various investor associations and investors visited the securities board to highlight the impact of the rule on the secondary market and urged for a correction.
Key investors who participated in the discussion:
- Ghanashyam Pandey, President of Nepal Shareholders Association
- SP Chapagain
- Tilak Koirala
- Tulsiram Dhakal, President of Nepal Investment Forum
- Hari Bahadur KC, President of Share Market Investors Association
Investors argued that the rule has created unnecessary pressure on the market and insisted on immediate amendment. However, the necessary decision will be made only after SEBON Chairman returns.