SEBON asked for applications to open new stock and commodity exchanges

KATHMANDU: The Securities Board of Nepal has requested applications for the opening of a news stock exchange platform from the interested parties.

After the Supreme Court made it possible to halt broker licenses, licenses for additional stock exchanges, and licenses for commodity exchanges prior to elections, SEBON continued with the process on Thursday.

The process to create a new stock exchange and commodity exchange market company was started on Thursday after the board issued a notice.

The board has given interested parties 10 days to submit applications. The board has advanced the procedure that has been stuck for five months.

To open one stock exchange and two commodity exchanges, the board invited applications from interested businesses.

On Sunday, a joint bench of Justices Sushmalata Mathema and Anil Kumar Sinha of the Supreme Court cleared the way.

The Supreme Court halted the distribution of licenses in October of last year with a temporary injunction. Then, on Sunday, the joint bench cleared the way.