SEBON forms probe committee

September 14: Securities Board of Nepal (SEBON) has annulled the share transaction of Nepal Investment Bank on September 6. Nepse spokesperson Murahari Parajuli informed that the board had sent a written instruction to the bank in this regard.

On that particular day, 822 transactions worth Rs 70,976,846 for a total of 91,979 units of shares of the bank had taken place.

The bank had announced a notice on the website of Nepse on September 6 that it would issue 25 percent bonus shares and 16 percent cash dividend from the profit of fiscal year 2016/17. But later, it made a correction stating that it would issue 25 percent cash dividend and 15 percent bonus shares.

SEBON has already formed a three-member probe committee regarding this issue. The bank on its part has admitted that there were some typing errors leading to the mistake.

Meanwhile, SEBON spokesperson Niraj Giri said that the bank clarified the board that it made the error in haste and later made correction after being notified about the incident.