SEBON brings cheers for project and industry affected locals; now make IPO application via ASBA method and enjoy Demat accounts free of renewal charges

Securities Board of Nepal has a couple of good news for local people who have been facing lot of hassles while applying for the IPO shares as the project / industry affected locals. The market regulator, keeping in view that the BFIs have reached around 700 local units in all 77 districts, have made a provision under which  project / industry affected people can make application for IPOs from the popular ASBA application service. This new system will come into effect from Falgun 1, 2075 however in an optional choice of the investors.

Another good news is that the board has also instructed the respective parties to waive the annual renewal fee of Demat accounts for such project affected individuals since they won’t be able to purchase and transfer their shares until the locking period (3 years in most cases) get over. This means, locals now don’t need to pay renewal charges until the locking period gets over.