1680 units of EIC traded at unadjusted price; NEPSE says the trade has been cancelled

On 28^th Kartik, 2075 i.e. yesterday, a miss-happening took place. What had happened was Everest Insurance Company (EIC) had closed its books on 27^th Kartik to issue 105% right share (for establishing promoter shareholding) and adjusted price for the same was released the next day which was Rs.563.41. It was noticed that there was a trade on the book closure date. On 27^th Kartik, 1680 units of EIC were traded in the unadjusted price i.e. Rs 1000 to Rs 1029 range.

On enquiry of this issue, it was found that this disruption happened due to mistake of the concerned department. NEPSE had received number of complaints regarding the same upon which the issue was brought to NEPSE’s notice. Further, talking to the CEO of NEPSE about this issue, he said that upon detailed examination this mistake was noticed and to rectify the same, the said trade has been cancelled.