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Nepse freezes share transaction of 24 companies

The Nepal Stock Exchange (Nepse) has decided to freeze share transactions of 24 listed companies after they failed to pay renewal fees as specified.

As per the rule, the listed companies need to pay their renewal fee within the first three months of the new fiscal year.

Among the companies whose share transactions have been frozen include A category commercial bank – Nepal Bangladesh Bank.

In these 24 companies, 815,320 people have invested in shares. Nepse officials say that these companies needed to pay renewal fee ranging from Rs 15,000 to Rs 50,000. But they did not pay the fee despite repeated calls by the Nepse, the officials said.

The officials said that the frozen transactions will be allowed to resume once the companies pay the fee.

Those companies whose share transactions have been frozen include Morang Sugar Mills, Biratnagar Jute Mills, Butwal Spinning Mills, Harisiddhi Bricks Tiles Factory, Birat Shoe Limited, Himgiri Textiles, Floor Himalyan and Shreeram Sugar Mills from among the manufacturing group. Likewise, Hotel Yak and Yeti, National Productivity and Economic Development Center, Nepal Trade (Kosi), Nepal Trading Limited, Nepal Insurance, NB Insurance, and Prudential Insurance also face Nepse action.

Similarly, some finance companies like Kathmandu Finance, Union Finance, Lalitpur Finance, Pokhara Finance, Nepal Bangladesh Finance, Sirjana Finance, Nepal Industrial Development Corporation and Deprox Development Bank have also not paid the renewal fee. nepalnews.com sd Oct 30 07