CDS and Clearing Limited rounds up 13 more companies for DMAT; Bars BT from Mangsir 28

Central Depository and Securities Clearing (CDSC) has picked thirteen more companies in the dematerialization process. From Mangsir 28, the trading and settlement of the shares of Innovative Development Bank, Western Development Bank, Nepal Community Development Bank, Araniko Development Bank, Chhimek Laghubitta Bikas Bank Limited, Sindhu Bikas Bank Limited, Tourism Development Bank Limited, Salt Trading Corporation Limited, Narayani National Finance Limited, International Leasing and Finance Limited, Surya Life Insurance Company Limited, Life Insurance Corporation Nepal Limited and Nabil Balance Fund 1 will only take place in DEMAT Form. CDSC has also urged the investors to sell their shares of these companies if it’s in Blank Transfer (BT) or get them transferred in their names in DMAT form by Mangsir 27 as buying and selling BT shares would be prohibited after DMAT trading rule comes into force after Mangsir 28. Shareholders interested to purchase the shares of these companies must have a DMAT account. Buyers of the shares of these companies will get shares only in their DMAT account after Mangsir 27. Investors should open a DMAT account through authorized depository participant firms. At present there are a total of 106 companies being traded in DEMAT form.