Kathmandu, July 24, 2015
CDSC has instructed 20 listed companies to get their shares fully dematerialized by Shrawan 24, 2072.
Although the shares of these companies may be sold in both materialized and demat form, the buyers will get the ownership only in the DMAT form from Shrawan 8.
The CDS has also said that shares in Blank Transfer (BT) of all the 20 companies will have to be sold or sent for ownership transfer (OT) at their respective RTS within 15 days beginning Sharawan 8. After Shrawan 23, the press statement says, the transactions in the shares of these companies cannot take place in the BT form as the shares of these companies will have to be traded in the dmat form.
It is believed that online trading, facilitated by CDSC, would free the traders and individual investors from the hassles and risks associated with physical shares.
Earlier, Shikhar Insurance, Global IME Bank, Unilever Nepal, Himalayan General Insurance, Mahalaxmi Finance Limited, Everest Finance Company, Taragaoun Regency Hotels were listed by CDSC to get their shares fully dematerialized by Baisakh 6, 2072.
Again, Nabil Bank, Ace Development Bank, Everest Insurance, United Finance, Sunrise Bank, Butwal Power Company and Vibor Bikas Bank were to be traded and settled only in DMAT form after Baishakh 14 but because of the massive earthquake on Baishak 12 the shares of these companies were considered for trading and settlement in DMAT form only from Jestha 17, 2072.
CDSC has instructed 20 listed companies to get their shares fully dematerialized by Shrawan 24, 2072.
Although the shares of these companies may be sold in both materialized and demat form, the buyers will get the ownership only in the DMAT form from Shrawan 8.
The CDS has also said that shares in Blank Transfer (BT) of all the 20 companies will have to be sold or sent for ownership transfer (OT) at their respective RTS within 15 days beginning Sharawan 8. After Shrawan 23, the press statement says, the transactions in the shares of these companies cannot take place in the BT form as the shares of these companies will have to be traded in the dmat form.
It is believed that online trading, facilitated by CDSC, would free the traders and individual investors from the hassles and risks associated with physical shares.
Earlier, Shikhar Insurance, Global IME Bank, Unilever Nepal, Himalayan General Insurance, Mahalaxmi Finance Limited, Everest Finance Company, Taragaoun Regency Hotels were listed by CDSC to get their shares fully dematerialized by Baisakh 6, 2072.
Again, Nabil Bank, Ace Development Bank, Everest Insurance, United Finance, Sunrise Bank, Butwal Power Company and Vibor Bikas Bank were to be traded and settled only in DMAT form after Baishakh 14 but because of the massive earthquake on Baishak 12 the shares of these companies were considered for trading and settlement in DMAT form only from Jestha 17, 2072.
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