The CIAA has requested documentation from Sebon relating to the issuing of primary shares via book building

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The Commission for the Investigation of Abuse of Authority (CIAA) has requested papers from the Securities Board of Nepal (Sebon) in order to examine Sebon Chairman Bhisma Dhungana’s alleged insider trading.

Dhungana is accused of buying 11,992 of general shares in Sarbottam Cement, a firm that is preparing to issue primary shares to the public via the book- process. While the cement company was awaiting permission from the regulator, Dhungana is suspected of using his “influence” to buy shares in the cement company in his daughter’s name.

According to a CIAA spokesman, the anti-graft agency has requested that the board disclose papers relating to the book- process for primary shares.

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