Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Securities Listing Regulations 2017 will be amended by the Nepal Stock Exchange (NEPSE). NEPSE’s Board of Directors met on Monday and made the decision to amend the regulations by addressing a number of insufficient points in light of the market’s size.
The board of directors decided to amend the regulations, according to NEPSE information officer Murahari Parajuli.
The securities listing period will be shortened under the new, revised regulation, claims NEPSE. Any share or debenture can currently be listed on NEPSE in a maximum of 30 days. It will be eliminated in seven days in accordance with the new system.
The securities of the companies that have reached NEPSE for securities listing will now be listed within a maximum of seven days of the process being finished.
NEPSE also stated that redundant provisions in the regulations as they are currently being applied will be eliminated and a provision will be added allowing any company to submit a digital copy when it comes to listing securities.
The current regulations were silent on the proper way to list FPO and other kinds of shares. Clarifying the listing and lock-in period will now result in the amendment of more shares (FPO, right shares, preference shares, and other types of shares).
Even in the regulations, the issue of lock-in is not clearly stated. We are updating this system in such a way that the updated rules specify why, for how long, when to begin, how many shares will be locked-in, and also the duration.
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