Kathmandu, Mar. 4
Chief Executive
Officer of the Nepal Stock Exchange (NEPSE) Krishna Bahadur Karki said that if
the government allowed, the company was ready to advance for the Initial Public
Offering (IPO).
"NEPSE
should be able to cater to the need of the market and develop its technological
and administrative structure as per the requirement. If required, it can go for
an IPO," he said while speaking with journalists at an interaction on
capital market organised by NEPSE in cooperation with Nepal Association of
Financial Journalists (NAFIJ).
The newly
appointed chief of the NEPSE said that the new stock exchange should be
established with due consideration of the Nepali capital market. He also
maintained that for the time being, NEPSE should be able to cater to the need
of the market.
Stating that he
has accorded priority to the policy and legal reforms for the development of
capital market, Karki said that the company should be technologically sound to
cater its services to the growing number of investors.
He said that
NEPSE will facilitate the expansion of share markets to the rural levels with
the development of new and efficient software infrastructure.
Acting Manager
of NEPSE Niranjan Phuyal said that Pakistan had integrated three different
stock exchanges into one and invited foreign strategic partner in the company.
Bangladesh has also invited a Chinese company as a partner in its national
stock exchange.
He said that
NEPSE and CDS and Clearing Limited could be strengthened in the same way with
the support from the foreign strategic partners.
According to
Phuyal, the restructuring and strengthening of the brokerage industry, minimising
their risk, and adding services to their job portfolio should be the priority.
Likewise, intra-day trading, auction market, derivative market and index fund
are the other areas that need attention.
Chief Executive
Officer of CDSC Purna Prasad Acharya said that the last one and a half years
had witnessed an exponential growth in the capital market with demat account
reaching 5 million from earlier about 1.5 million and opening of 4.1 million
Mero Share accounts.
"Attraction
is still growing and we have technological challenge to meet the demand. Hence,
we are developing an efficient application to facilitate the investors in their
transactions," he said.
He said that
revenue collection from the share market has been increased in recent years.
The government had collected Rs.14.14 billion revenue from share market last
year, and it has collected Rs. 8.9 billion by the end of the first seven months
of the current fiscal year.
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