Listed companies should be registered in CDSC: Nepse

KATHMANDU, Aug 20:

Only 74 companies have been registered in the CDSC and Clearing Ltd. as per the direction given by Nepal Stock Exchange (Nepse).

There are 235 listed companies in Nepse. Some 161 companies did not comply the Nepse direction. Only 20 have registered in CDSC and 54 are on the registration process.

Nepse direction was not implemented as only the shares in electronic system (DEMAT), will be transacted from October 19. Although Nepse and CDS and Clearing Ltd. have made efforts for the listed companies to transact, it has not been implemented.

Nepse General Manager Sitaram Thapaliya said, "Companies have not obeyed our direction, we will have them transact through DEMAT their shares by registration in CDSC anyhow by October.

There is a binding law for it and if they do not comply we have made preparation to ask clarification, and alert them, he said.

General Manager Thapaliya said their share transactions will be halted and also removed from the list if they do not comply, he warned.

CDSC Chief Executive Officer Subodh Sharma Sigdel said there are some 3,000 transactions daily in average. CDSC is fully capable and has started transactions, he said.

After registration in the CDSC, the investors should go to the specified DP (deposit collectors) and tell them to keep electronic record of their shares of companies to DEMAT them.

Source: Republica