Published On: July 29, 2022 10:00 AM NPT By: Republica | @RepublicaNepal
KATHMANDU, July 29: The Securities Board of Nepal (SEBON) will accommodate Nepali migrant workers onboard the stock market. Its proposed policy reserves 10 percent in the sale of IPO shares in Nepal, according to SEBON Chair Ramesh Kumar Hamal.
For this to be implemented, the SEBON will amend the Securities Registration and Issue Regulation, 2073, he said, while making public its policies and programs for the current fiscal year 2022/23.
“This scheme is meant to recognise their contribution to the country and bring in remittance in a legal way and ensure further expansion of capital market,” he said.
The SEBON would also amend related laws to open the securities market in Nepal for non-resident Nepalis. “For securities entrepreneurs, the directive related to institutional reforms would be made and implemented,” Hamal said.
Effective policies and programs would be managed for the welfare of small investors and to control manipulation by big investors, added SEBON Chairman Hamal.
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