Kathmandu. The Securities Board of Nepal (SEBI) has made arrangements to issue non-existent undisclosed preferential shares to banks and financial institutions.

The Board has made this provision in the Securities Issue and Allotment (Ninth Amendment) Guidelines with effect from July 15.

Similarly, nepalis in foreign employment who are open to apply for the allocated shares have been revised from the existing 15 days to four working days.

According to the Board, if all the securities issued within that period are not sold, it will be valid for 15 days.