Himalayan Merchant Banker Granted License by SEBON

Himalayan Merchant Banker has been granted a license by the Securities Board of Nepal (SEBON).

The decision was made during the Board's meeting on Wednesday, where it was determined that the merchant banker, which is backed by investment from Himalayan Reinsurance, fulfilled all necessary requirements to obtain the license.

Acting Chairman of SEBON, Mr. Mahesh Baral, stated, "The company has completed the required procedures, and thus the decision was made to grant them the license. Others have been held back as their processes are still incomplete."

Currently, 29 merchant bankers are in operation. With the addition of Himalayan Merchant Banker, the total number will increase to 30. Merchant bankers are required to renew their operating licenses annually with the Board.

Merchant bankers play a crucial role in the capital market by preparing prospectuses, sales proposals, and other necessary documents for the issuance of securities, underwriting in cases where securities are not fully subscribed, maintaining records of securities holders on behalf of issuers and providing other services such as share registration and transfer.

Additionally, they offer investment and advisory services, ensuring that organizations comply with regulatory requirements while managing their securities effectively.