SEBON Faces Pressure to Revise 15-Day Share Sale Notice Rule After Market Rout
Summary
SEBON has faced mounting pressure from investor representatives to revise its 15-day advance notice rule for large shareholders selling listed-company shares. Investors say the provision has fueled panic selling and sharp declines, and they want a separate mechanism for promoter share sales and large transactions.
Key Points
- SEBON held a nearly three-hour discussion with investor representatives over the 15-day advance notice rule for substantial and founder shareholders selling shares.
- Investor representatives said the rule should not apply to shares bought in the secondary market and argued it has triggered panic selling.
- Proposals included cutting the notice period to seven days, creating an OFS or bulk-trading window, and setting up a public portal for large shareholders.
- SEBON officials said amendments would be considered soon, with a formal decision expected after Chairman Dr. Gopal Prasad Bhatta returns to Kathmandu Valley.
