BREAKING: SEBON Finalizes Licenses of Eleven More Securities Brokers in Third Phase

The Securities Board of Nepal (SEBON) has granted final securities brokerage licenses to eleven more companies.

Milky Way Share Broker Company Ltd, Akash Bhairav Securities Ltd, Capital Hub Pvt. Ltd, Pahi Investment Pvt. Ltd, S.P.S.A Securities Ltd, NMB Securities Ltd, Sanima Securities Ltd, Stochastics Securities Pvt Ltd, Bluechip Securities Ltd, Garima Securities Ltd, and Indira Securities Pvt. Ltd are the recipients of final brokerage licences in the third phase.

All the companies have received licenses under the limited securities brokerage category.

Firstly, 43 among the 46 applicant companies had received preliminary licenses/letter of intent (LOI) from SEBON, which occured in three different phases. 

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

Following the development, seven and eleven brokerage companies received final licenses from SEBON, in the first and second phase, respectively, after fulfilling infrastructural requirements.

READ MORE: SEBON: 11 New Brokerage Houses Receive Licences After Fulfulling Infrastructural Pre-requisite; First Time in History of Capital Market That Bank Gets License of Stock Broker

Thereafter, the Nepal Stock Exchange (NEPSE) verified the LOI for membership of seven and ten companies in the first and second phase, respectively. 

READ MORE: 10 New Brokerage Houses Receive LOI From NEPSE in Second Phase

Subsequently, after the preliminary approval of NEPSE membership of seven new companies in the first phase, their licenses were finalized and henceforth have begun operations as well. 

READ MORE: New Stock Brokers Commence Trading Following License Approval

Currently, 29 companies have received final license from SEBON, eleven have received preliminary license from NEPSE, while the seven companies which received final approval of NEPSE membership  have begun trading as well.