SEBON celebrates 25 years of operation
Kathmandu, June 8
Securities Board of Nepal (SEBON) — the securities market regulator — marked its silver jubilee today.
Addressing an event organised to celebrate the milestone, Finance Minister Gyanendra Bahadur Karki hailed SEBON’s role in developing and expanding Nepal’s capital market.
The recent initiatives to attract real sector company through amendment of Securities Registration and Issue Regulation is expected to encourage real sector companies to be a public listed company, as per Minister. “The dominating presence of the financial sector companies in domestic stock market will be diversified after real sector firms enter secondary market.”
Presently, the real sector companies can float 10 per cent shares to the public to be listed as public limited companies. And the real sector companies have been offered 15 per cent income tax incentive for five years to be listed as public company.
In the programme, Chairman of SEBON Rewat Bahadur Karki highlighted the recent reform initiatives taken by the board to encourage small and medium investors in the stock market through implementation of Applications Supported by Blocked Amount (ASBA) system, open pricing (with some cap) in initial public offerings and operational automation in the stock market.
During the silver jubilee ceremony, SEBON also honoured its past chairman and provided medals to its outstanding staffers.