45 aspirant companies apply to receive stock brokerage licenses

KATHMANDU: A total of 45 companies have applied at Nepal Stock Exchange (NEPSE) seeking brokerage licenses.

As of Monday, the final day of the deadline for the public call by the Securities Board of Nepal (SEBON), these companies submitted their application to get recommendations from the frontline regulator, according to NEPSE.

The SEBON has maintained that the interested firms should receive Nepse’s recommendations first to move forward for the official procedures at the SEBON.

Three companies with paid up capital of Rs 600 million have applied to receive full-fledged brokerage licenses while one company has sought to get license for a stock dealer. SEBON has made the rule that the firms applying to do limited brokerage work should have a paid up of Rs 200 million.

Similarly, the capital limit is maintained at Rs 600 million for a full-fledged brokerage license while it is Rs 1.5 billion for a stock dealer company.

On September 18, the SEBON issued a public notice inviting interested firms to get the brokerage licenses. Sebon had set a deadline of 30 days to apply for the license, which expired on Monday.