Office of SEBON in Lalitpur. (File photo)
KATHMANDU: The Ministry of Finance has sought clarification from Securities Board of Nepal (SEBON) regarding allegations of insider trading.
The Finance Ministry move comes as 12,000 units of shares of Sarbottam Cement were found in the name of Rebika Dhungana, who is the daughter of SEBON Chairman Bhishma Raj Dhugana. Meanwhile, Sarbottam Cement is preparing to launch an (initial public offering) IPO though book building technique, which is being practiced for the first time in Nepal.
The Finance Ministry gave three days to clarify after media carried a news that alleged SEBON Chair Dhungana misused his position to buy shares in his daughter’s name on the basis of inside information.
The ministry sought a clear and factual account of the facts of the matter, informed Financial Sector Management & Corporation Co-ordination Division of the Finance Ministry.