Nepse halts transactions of 24 companies
Kathmandu, October 30:
Nepal Stock Exchange (Nepse) has publishing a notice freezed share transactions of 24 listed companies including a commercial bank — Nepal Bangladesh Bank — after they failed
to pay renewal fees for this fiscal year.
According to the rule, listed firms must pay their renewal fee within the first three months of fiscal year. However, their failure to pay the renewal fee may hit around 8,15,320 investors, who have invested in these 24 companies. Hotel Yak and Yeti is the only hotel, under the hotels group, whereas there are more financial institutions including a commercial bank and a development bank.
“Though they are not declared bankrupt like Necon Air and Nepal Med, it has created panic to the small investors,” said a investor.
Meanwhile, Nepse didnot seem to be affected by this as it posted a growth of 5.40 points to 864.89 points and banking sub-index has also posted 7.02 points growth.
According to the Nepse, these companies have to pay from Rs 15,000 to Rs 50,000 as a renewal fee. But they did not pay, despite repeated calls by the Nepse.
However, they will be allowed to resume their transactions after they pay the renewal fee, Nepse said.
The companies that failed to pay
• Nepal Bangladesh Bank
• Kathmandu Finance,
• Union Finance,
• Lalitpur Finance,
• Pokhara Finance,
• Nepal Bangladesh Finance,
• Sirjana Finance,
• Deprox Development Bank,
• Shreeram Sugar Mills,
• Morang Sugar Mills,
• Biratnagar Jute Mills,
• Butwal Spinning Mills,
• Harisiddhi Bricks Tiles,
• Birat Shoe Ltd,
• Himgiri Textiles,
• Fleur Himalayan,
• Hotel Yak and Yeti,
• National Productivity and Economic Development,
• Nepal Trade Development Co (Koshi),
• Nepal Trading Ltd,
• Nepal Insurance,
• NB Insurance,
• Prudential Insurance