Commercial banks shares barred to sell in BT or physical form; CDSC ropes off 31 more companies which makes a total of 65 companies to be compulsorily traded in DEMAT

ShareSansar, July 29:

CDSC has instructed 31 listed companies to get their shares fully dematerialized by Shrawan 32, 2072.

CDSC had earlier instructed 34 listed companies to get their shares fully dematerialized. Now, there will be a total of 65 companies being traded in DEMAT form by the end of Shrawan.

The companies are:

Although the shares of these companies may be sold in both materialized and demat form, the buyers will get the ownership only in the demat form from Sharawan 17.

The CDS has also said that shares in Blank Transfer (BT) of all the 31 companies will have to be sold or sent for ownership transfer (OT) at their respective RTS within 15 days beginning Sharawan 17. After Shrawan 31, the press statement says, the transactions in the shares of these companies cannot take place in the BT form as the shares of these companies will have to be traded in the demat form.    

Earlier, Shikhar Insurance, Global IME Bank, Unilever Nepal, Himalayan General Insurance, Mahalaxmi Finance Limited, Everest Finance Company, Taragaoun Regency Hotels were listed  by CDSC to get their shares fully dematerialized by Baisakh 6, 2072.

Again, Nabil Bank, Ace Development Bank, Everest Insurance, United Finance, Sunrise Bank, Butwal Power Company and Vibor Bikas Bank were to be traded and settled only in DMAT form after Baishakh 14 but because of the massive earthquake on Baishak 12 the shares of these companies were considered for trading and settlement in DMAT form only from Jestha 17, 2072.

Later, Nepal Investment Bank Limited, Sanima Mai Hydropower Limited, Standard Chartered Bank Limited, Jyoti Bikas Bank, Nirdhan Uthhan Bank Limited, Prudential Insurance Company Limited NIDC Development Bank Limited, Siddhartha Insurance Limited, NLG Insurance Company Limited, Lumbini General Insurance Company Limited, Sagarmatha Insurance Company Limited, Neco Insurance Limited, Soaltee Hotel Limited, Janata Bank Nepal  Limited, Prime Commercial Bank Limited, Kalika Microcredit Development Bank Limited, Nepal Doorsanchar Company Limited, Naya Nepal Laghubitta Bikas Bank, ICFC Finance Limited, Siddhartha Finance Limited were listed by CDSC to get their share fully dematerialized by Shrawan 23,2072.

All 28 Commercial Banks that are being traded at NEPSE has been listed by CDSC to get their shares fully dematerialized.

It is believed that electronic trading and settlement, facilitated by CDSC, would free the traders and individual investors from the hassles and risks associated with physical shares.

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