KATHMANDU, June 11: The Securities Board of Nepal (Sebon) cautioned the general public not to invest on the stocks that have not taken approval from the regulator.
Showing its concern over the recent call by Manakamana Daraudi Hydropower Company to purchase its offerings, the Sebon has come up with the cautionary note. Issuing a public notice on Sunday, the regulator of the country’s stocks exchange market has termed issuing such stocks illegitimate.
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“If any organization wants to sell its securities to more than 50 persons at once, they should take approval of the authorities concerned before they call for public offerings,” reads the notice issued by the Sebon. The regulator has also warned the listed companies not to advertise or publish misleading information among the general public.
