KATHMANDU, October 30: The Securities Board of Nepal (SEBON) — capital market regulator — has directed stockbrokers, merchant bankers and Applications Supported by Blocked Amount (ASBA) members to have robust management in place so that investors can apply for auction shares from outside the Kathmandu Valley too.
Currently, investors from outside the Valley are not able to invest in auction shares.
SEBON has directed the concerned parties to set up a system whereby people from major cities outside the Valley like Biratnagar, Birgunj, Pokhara, Butwal, Nepalgunj, Surkhet and Dhangadi can invest in auction shares.
Similarly, SEBON has also directed the aforementioned parties to establish a system that allows investors to invest in right shares through ASBA mechanism.
Source: The Himalayan Times