14 Additional Companies Receive LOIs; 43 Among 46 Applicants Receive Preliminary Stock Broker License

Securities Board of Nepal (SEBON) has provided letter of intent to 14 additional companies, which had applied to receive a brokerage license. 

A meeting of the Board of Directors held on Thursday decided the aforementioned. 

Similarly, it has been learnt that Eagle Stock Equity Pvt Ltd's application to receive broker license has been denied as the submitted application was not in line with the required guidelines. Meanwhile, NIC Asia Securities and Century Stock Broker have decided to withdraw its application. 

In the first phase of the application procedure, 16 companies had received letters of intent at the board of directors meeting, as informed by Mukti Nath Shrestha, spokesperson for SEBON (Securities Board of Nepal).

In the second phase of the license awarding,13 companies who submitted applications for new brokers have also obtained letters of intent.

With this new development, the number of companies which have been awarded the letter of intent has reached 43. 

Earlier, The Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064 had been revised by SEBON to begin the process of awarding new licenses. The Securities Board later had released a notice on Ashwin 2, 2079 with a 30-day deadline in order to carry it out. As a result, 45 companies had submitted applications for stock broker licenses, while one company applied for a stock dealer license.

See list of companies with LOI approval:

In the first phase, 

1. Nabil Securities Ltd
2  Mega Stock Markets Limited
3. Himalayan Brokerage Company Ltd
4. C.B.I. L Securities Ltd
5. KBL Securities Ltd
6. NMB Securities Ltd
7. RBB Securities Company Ltd
8. Sanima Securities Ltd
9.  Index Securities Ltd
10. Sun Securities Pvt. Ltd
11. Capital Max Securities Pvt. Ltd
12. Bhole Ganesh Securities Ltd
13. Infinity Securities Ltd
14  Akash Bhairav Securities Ltd
15. Elite Stock House Ltd
16. S.P.S.A Securities Ltd

In the second phase, 

17. Sunrise Securities Ltd
18. JBNL Securities Ltd
19. Sharepro Securities Pvt. Ltd
20  Stochastic Securities Ltd
21  Property Wizard Limited
22. Capital Hub Pvt. Ltd
23. Milky Way Share Broker Company Ltd
24. Bluechip Securities Ltd
25. Garima Securities Ltd
26  Kalash Securities Pvt Ltd
27  Money World Share Exchange Pvt. Ltd.
28. Shubkamana Securities Pvt. Ltd.
29. Miyo Securities Pvt. Ltd 

In the third phase, 

30. Machhapuchhre Securities Ltd.
31  Prabhu Stock Market Capital Limited
32. Pahi Investment Pvt. Ltd
33. Beni Securities Pvt. Ltd
34. Trademo Securities Pvt. Ltd
35. Indira Securities Pvt. Ltd
36. Hatemalo Financial Services Pvt. Ltd
37. Roadshow Securities Ltd
38. Sajilo Broker Company Ltd
39. Apple Securities Ltd
40. Magnet Securities and Investment Company Pvt. Ltd
41. Himalayan Securities Ltd
42. Sunny Securities Company Ltd.
43. CG Investment Securities Ltd

16 Broker Companies Receive Letters of Intent (LOI) for New Broker License

Another 13 Broker Companies Receive Letter of Intents (LOI) for New Broker License