Sebon detects manipulation in share price of 51 firms in secondary market (with list)

KATHMANDU: It has been found that the share prices of 51 companies have been manipulated in the stock market.

The Securities Board of Nepal (Sebon) has concluded that the share prices of hydropower, microfinance and finance companies have increased unnaturally.

The Sebon had formed a committee to investigate after unnatural rise in share price of a number of companies. The preliminary study has found companies manipulating share price. Sebon has submitted the report to the Ministry of Finance, as per Nabaraj Adhikari, deputy executibe director of Sebon.

“A long time ago, there was a detailed study of companies trading on Nepse from June 27,” he told Klikmandu.

He informed that Sebon has listed the companies that did not have good financial statements and did not publish the details for the past few years and submitted the report to the Ministry of Finance along with other details.

“It is not natural the way demand and price of share of such companies is increasing to this level. We will carry out detailed investigation on it,” he said.

Sebon is investigating people/companies doing unnatural transactions and price hike of those companies and is also preparing to make public the list of those companies.

Click here for full list of 51 companies who were found to have manipulated share price in the stock market

Fiscal Nepal |
Tuesday June 15, 2021, 02:50:42 PM |

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