NEPSE BOD Meeting Undecided on Finalization of Membership for Seven New Brokers
Wed, Jul 5, 2023 11:20 AM on Latest, Stock Market,
The Board of Directors (BOD) meeting of the Nepal Stock Exchange (NEPSE) held this morning has not finalized the pending membership of seven new brokerage companies.
Talking to Sharesansar correspondent over the phone, Company Secretary and Information Officer Murahari Parajuli, confirmed that the meeting of the BOD held this morning could not reach a conclusion on the agendas for discussion.
"The decision from the meeting is still in limbo as no final conclusion could be reached," stated Parajuli.
In the same manner, he shared that there is a faint possibility that the decisions of today's BOD meeting will be made public by this evening.
Parajuli said, "Although, there is a possibility that decision of the meeting could be made public by this evening, the possibility of the same is faint."
Likewise, if the decision of the meeting, which includes agenda to finalize the NEPSE membership for extending services as new brokerage houses to seven such companies, could not be made public today, the discussions will be slated for another BOD meeting of NEPSE, according to Parajuli.
However, under the circumstance, no dates for BOD meeting has been confirmed as of yet, as per Parajuli.
Earlier, a BOD meeting of NEPSE had been scheduled for Wednesday morning to discuss matters including the final approval for the seven broker companies and operation of NEPSE-30 index.
Yesterday, talking to Sharesansar over the phone Company Secretary and Information Officer at NEPSE Murahari Parajuli had stated, "A meeting of the Board of Directors of NEPSE has been scheduled for tomorrow morning. Tomorrow's BOD meeting has agendas including discussion to provide final approval to the seven broker companies as well as the discussion on operation date of NEPSE-30 index."
In the first phase seven broker licenses under the limited brokerage services were approved by SEBON and subsequently their membership at NEPSE received preliminary license/LOI. The seven new companies includes Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Company Limited, Sun Securities Private Limited, Miyo Securities Private Limited, Sharepro Securities Private Limited and Property Wizard Limited.
In the second phase, 11 additional brokerage houses received licences after fulfulling infrastructural pre-requisite.
Following the approval, Mega Stock Markets Limited can extend its services as a full operating securities broker. Additionally, Nabil Securities Limited, the lone applicant for a broker company with a dealer’s license, had its application approved.
The remaining nine companies' licenses were approved granting them to work as limited securities broker which included Elite Stock House Limited, Infinity Securities Limited, Index Securities Limited, Shubkamana Securities Private Limited, Hatemalo Financial Services Private Limited, Money World Share Exchange Private Limited, Machhapuchhre Securities Limited, Kalash Stock Market Private Limited and KBL Securities Limited (which has not yet sought NEPSE membership).
As of now, the Securities Board of Nepal (SEBON) has approved licenses for 18 companies in two different phases after fulfulling infrastructural pre-requisites.
