Stock brokers in share market decentralization mood; 10 share brokers to open their new branches out of valley; Karnali Province also in wish list
- ShareSansar, April 9, 2018 on External Media , Featured , Latest , Stock Market
Amidst number of complains that the stock brokers are heavily city centered, few of the brokers who are already performing well in the urban areas of the nation have sought permission at Securities Board of Nepal (SEBON) to expand their services by extending their RWS. This time, these stock brokers have decided to flex their muscle also to the Karnali Province which has long been regarded as the most backward region amongst all in the country.
As per the information available, out of 10 stock brokers who had applied for SEBON’s permission to expand outside the valley, 7 of them have already received Letter of Intent while 3 of them are yet to be monitored and approved.
Imperial Securities is soon moving to Surkhet with its RWS while locals at Bhairahawa will find Kalika Securities at their doorsteps in near future, if everything proceed as planned.
Following the same suit, Sumeru Securities is expanding to Janakpur while Oxford Securities is adding its work station at Dang.
Vision Securities whereas will find itself at Ghorahi of Dang and Bhairahawa of Rupandehi if things go as planned. Aryatara Securities which had already opened its work station at Butwal will also expand to Bhairahawa and Dang in near future after receiving go-ahead signal from the board.
Apart from these, Premier Securities that had submitted its work plans to open RWS at Bharatpur of Chitwan, Nasa Securities’ application to expand at Janakpur, Damak and Pokhara and Shreehari Securities’ willingness to expand at Biratnagar, Birgunj, Damak and butwal are all waiting from SEBON to complete the preliminary stage of monitoring and approval.
As per the existing provisions, a stock broker willing to expand its branch should fulfill minimum requirements including at least 5 employees, 5 computers and 300 Sq meter of office area among others. With this expansion, the locals at different towns and villages of the nation should also be able to take active part in secondary share market, as per the market observers.