Sagoon Denies Previous Claims by SEBON, Says the Information is Misleading

SEBON vs Sagoon
Share It On:

5th August 2020, Kathmandu

US-based Sagoon Inc. has clarified that it has not issued any securities targeted for Nepalese living in Nepal.

Previously, the Securities Board of Nepal (SEBON) had claimed that the company’s IPO collection in Nepal is illegal.

Read more of that here:

In reaction, Sagoon has said that the information issued by the board is misleading.

The company claims that Sagoon is legally registered in the US state of Delaware. Moreover, it has obtained permission from the US Securities and Exchange Commission to trade in shares.

As per the company, non-resident Nepalese can invest in shares up to 10% of their annual income. In response to the notice by SEBON, the company has also claimed that the board has demotivated potential investors.

Furthermore, the company has not advertised for the issuance of securities targeting Nepalese living in Nepal so far.

Sagoon has claimed that the board neither bothered to ask any questions nor gave them a chance to clarify before publishing the information. Due to this, the company feels that the information has tarnished its reputation.

The company has, therefore, written to the board asking to correct the information.


Share It On:

Recent Posts

Citizens Bank 11.11 Deals: Exclusive Discounts on Daraz

Citizens Bank 11.11 Deals: Exclusive Discounts on Daraz

Share It On:5th November 2024, Kathmandu Citizens Bank International Limited signed an agreement with Nepal’s leading online marketplace, Daraz, to

Local Talent Shines in Cybersecurity: Bipu Ojha and Tuan Khuat Win CDU IT CodeFair CTF

Local Talent Shines in Cybersecurity: Bipu Ojha and Tuan Khuat

Share It On:5th November 2024, Kathmandu Bipu Ojha and his teammate Tuan Khuat have emerged as winners in the prestigious

CEDB Hydropower’s Extraordinary General Meeting Concluded: Five Directors Elected

CEDB Hydropower’s Extraordinary General Meeting Concluded: Five Directors Elected

Share It On: 5th November 2024, Kathmandu CEDB Hydropower Development Company Limited has successfully concluded its extraordinary general meeting. CEDB

Government’s Journalist Accident Insurance Program: Apply Now For Your Protection

Government’s Journalist Accident Insurance Program: Apply Now For Your Protection

Share It On: 5th November, Kathmandu The Department of Information and Broadcasting has announced the launch of a new insurance

Nepal Life’s Property Acquisition in Hetauda: A Strategic Move For Growth

Nepal Life’s Property Acquisition in Hetauda: A Strategic Move For

Share It On:5th November, Kathmandu Nepal Life Insurance, a leading life insurance company in Nepal, has recently expanded its footprint

Global IME Dividend Announcement: Key Book Closure Date Revealed

Global IME Dividend Announcement: Key Book Closure Date Revealed

Share It On:5th November 2024, Kathmandu Global IME Bank has good news for its shareholders! The bank has announced a