Frontline regulator of the share market, Nepal Stock Exchange (Nepse), today suspended some 11 companies from their shares being traded.
According to a decision taken today by the board of the Nepse, the trading of shares of 7 hydropower companies, one life insurance company, one development bank, and two microfinance companies has been suspended. “The trading has been suspended in response to the letter sent from Securities Board of Nepal (Sebon), the capital market regulator,” confirmed the Nepse.
The Nepse suspended the trading of shares of Nepal Hydro Developer Limited (NHDL), Panchakanya Mai Hydropower Limited (PMHPL), Panchthar Power Company Limited (PPCL), Radhi Bidyut Company Limited (RADHI), Universal Power Company Limited (UPCL), Rairang Hydropower Development Company Limited (RRHP), Union Hydropower Company Limited (UNHPL), Gurans Life Insurance Company Limited (GLICL), Karnali Development Bank Limited (KRBL), Kalika Laghubitta Bittiya Sanstha Limited (KMCDB) and National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS), according to a press note issued by the Nepse.
The listed companies must submit their annual reports to Nepse and Sebon within the specified time frame. “The listed companies that fail to submit the necessary documents on time can be suspended from trading by Nepse,” the press note reads, adding that the 11 companies that are suspended as they failed to submit their respective annual report of the fiscal year 2075-76 to the regulatory body on time.
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