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

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future Plans

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future

Share It On:22nd November 2024, Kathmandu Liberty Energy Company Limited is gearing up to issue rights shares starting December 1,

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Share It On:22nd November 2024, Kathmandu Asha Laghubitta Bittiya Sanstha is holding its 8th Annual General Meeting (AGM) today, November

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and Reproductive Health Policies

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and

Share It On: 21st November, Kathmandu Nepal is set to host the 6th Asian Population Conference from November 27 to

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Share It On:21st November, Kathmandu Kumari Bank Limited has officially declared its intention to sell a substantial number of promoter

Up to NPR 150 Cashback on Nepal Telecom and Ncell Services with Namaste Pay

Up to NPR 150 Cashback on Nepal Telecom and Ncell

Share It On:21st November, Kathmandu Namaste Pay has unveiled an exciting new campaign to reward its users with cashback on

Ncell introduces innovative feature, enabling customers to convert voice to data or data to voice services

Ncell introduces innovative feature, enabling customers to convert voice to

Share It On:21st November, Kathmandu Ncell customers can enjoy an innovative feature that allows them to convert or exchange remaining