Nepal Stock Exchange (Nepse) has frozen share transactions of 24 companies including a commercial bank – Nepal Bangladesh Bank (NBB) and five star hotel-Yak and Yati as they failed to pay their renewal fees for this fiscal year as per the stock exchange provision.
Nepase said it suspended the transaction and listing of those companies by the virtue of Stock Excnage Listing Regulation 2002, second amendment. According to the provision, renewal fee should be paid within the first three month of new fiscal year. Niranjan Phuyal, senior officer at Nepse said the transaction of suspended companies would resume once they pay the renewal fees.
The failure of those companies to pay the fees have put some 8,15,320 investors who have invested in shares of suspended 24 companies at risk.
The Nepse has frozen the transaction of Kathmandu Finance, Union Finance, Lalitpur Finance. Pokhara Finance, Nepal Bangladesh Finance, Sirjana Finance, NIDC, Deprox Development Bank, Shreeram Sugar Mills, Morang Sugar Mills, Biratnagar Jute Mills, Butwal Spinning Mills, Harisiddhi Bricks Tiles Factory, Birat Shoe Ltd, and Himgiri Textiles.
Other suspended companies includes, Fleur Himalayan, Hotel Yak and Yeti, National Productivity and Economic Development Centre, Nepal Trade Development Co (Koshi), Nepal Trading Ltd, Nepal Insurance, NB Insurance, and Prudential Insurance.
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