KATHMANDU, December 26:
The number of listed companies that have agreed to dematerialise their shares at CDS and Clearing Ltd (CDSC) has reached 16.
Nepal Life Insurance Company has become the latest company to sign the agreement with CDSC on dematerialising the insurer’s listed securities. As per the agreement, Nepal’s only central depository will dematerialise the life insurer’s 6.375 million units of shares listed on Nepal Stock Exchange (Nepse).
Including this firm, 16 companies have so far dematerialised their shares for electronic transfer and settlement. There are 235 companies listed
on Nepse that need to get their shares dematerialised—a process of converting securities into electronic format.
In addition, 32 bonds, corporate debentures and mutual funds have to be dematerialised too.
Although CDSC is fully equipped and capable of undertaking clearing and settlement of dematerialised shares, it has not been able to start its operation in absence of companies with dematerialised shares.
CDSC is supposed to clear and settle the traded dematerialised shares electronically so that sellers get paid within four days of transaction.
CDSC members
• No of registered companies: 16
• No of registered clearing members: 31
• No of licensed depository participants: 10
Source: CDSC
Source: THT
The number of listed companies that have agreed to dematerialise their shares at CDS and Clearing Ltd (CDSC) has reached 16.
Nepal Life Insurance Company has become the latest company to sign the agreement with CDSC on dematerialising the insurer’s listed securities. As per the agreement, Nepal’s only central depository will dematerialise the life insurer’s 6.375 million units of shares listed on Nepal Stock Exchange (Nepse).
Including this firm, 16 companies have so far dematerialised their shares for electronic transfer and settlement. There are 235 companies listed
on Nepse that need to get their shares dematerialised—a process of converting securities into electronic format.
In addition, 32 bonds, corporate debentures and mutual funds have to be dematerialised too.
Although CDSC is fully equipped and capable of undertaking clearing and settlement of dematerialised shares, it has not been able to start its operation in absence of companies with dematerialised shares.
CDSC is supposed to clear and settle the traded dematerialised shares electronically so that sellers get paid within four days of transaction.
CDSC members
• No of registered companies: 16
• No of registered clearing members: 31
• No of licensed depository participants: 10
Source: CDSC
Source: THT
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