Compulsory demat account required for the IPO issue; DP service reaches 55 districts

Securities Board of Nepal (SEBON) has issued a press release  stating demat account will be compulsory for IPO issue. Compulsory demat account rule for Kathmandu Valley will be implemented from 1^st  of Shrawan, 2073 and outside the valley  form 1^st Magh, 2073. Applicants of the IPO will be required to provide their respective demat account number  in the IPO application form. The depository participant service has already reached 55 districts and  CDS and Clearing Limited plans to expand the DP service to the 75 districts by Ashad, 2073. Although for industry affected area, compulsory demat account will not be required for the IPO issue.