SEBON warns against fraudulent ‘pre-IPO’ share sales
Summary
The Securities Board of Nepal (SEBON) has warned against illegal pre-IPO share sales being promoted as investment opportunities with high returns through various platforms.
Key Points
- SEBON has issued a warning against fraudulent 'pre-IPO' share sales which are illegal under Nepalese law.
- Scammers offer shares promising returns up to five times the investment for companies that have not issued primary shares.
- Such offers are circulated via WhatsApp, Viber, Facebook, email, and SMS.
- Companies mentioned in scams include Skyline Infra Company, Sarathi Cable Industries, and Nepal Brewery among others.
