Companies issuing IPOs will have to secure 10 pc reservations for migrant workers: SEBON

Kathmandu / Nov 3: Migrant workers will now get at least 10 percent of the primary shares (IPOs) issued by the companies, according to the revised rules of the Securities Board of Nepal (SEBON).

Enforcing the Amended Securities Issue and Allotment Guideline 2022 on Thursday, SEBON introduced the reservation scheme for the migrant workers. Only those migrant workers, who have received legal work permits from the authorities, will be eligible for this.

The regulator has asked the issue managers concerned to maintain a 15-day deadline while issuing the shares for the migrant workers. “The interested migrant workers will have to pay the subscription amount through the remittance saving account maintained in banks, which are members of the Application Supported by Blocked Amount (ASBA) system,” reads the guideline.