Kathmandu, July 27: The Security Board of
Nepal (SEBON) Wednesday informed that it would soon set provisions required to
set the price of Further Public Offering (FPO).
Speaking at a programme to update the press
about the progress the capital market regulator had made, its chairman Dr.
Rewat Bahadur Karki said that the Board had formed an Expert Committee
coordinated by a member from the Institute of Chartered Accountants of Nepal
(ICAN) to develop clear provisions regarding the FPO price, and new provisions
would be announced soon.
“We will soon direct the Nepal Stock Exchange
Limited (NEPSE) to involve the Citizen Investment Trust in the secondary market
as the institutional investor,” he said.
A study team led by executive director of the
Board has submitted its report to SEBON on the matter.
Dr. Karki claimed that the slashing of
securities brokers’ commission had positive impact on the investors and the
market.
He said that the board has slashed the Over
the Counter (OTC) transaction up to 90 per cent in order to promote transaction
in OTC market. “The SEBON is working in coordination with the Office of Company
Registrar and NEPSE in order to enhance the OTC market.”
The board has recently directed the NEPSE to
replace the current Broker Back Office System. It became the member of
Association of National Numbering Agencies (ANNA) and process is underway to
become the member of International Organization of Securities Commissions
(IOSCO).
Similarly, it has directed the NEPSE to
establish additional clearing bank, improve its software, make provisions for
settlement fund and auction market.
No comments:
Post a Comment