SEBON working to make ASBA more effective

Securities Board of Nepal (SEBON) has been doing necessary work to make applications for public issues through ASBA (Applications Supported by Blocked Amount) more effective and easier for all concerned parties. It has also been deploying inspection teams at various branches of several ASBA approved BFIs. Issuing a press statement, SEBON said that it has been holding discussions with representatives of major banks and financial institutions to make the process more manageable and effective. BFIs have responded with positive response and said that managing ASBA applications was less time consuming and simpler than manual IPO applications. To make ASBA more effective, SEBON has received feedback on revising ASBA charges and making ASBA form more simple. In this context, SEBON is holding discussions with merchant bankers and CDS & Clearing Limited to develop online ASBA application solutions.