Nepal Stock Exchange (NEPSE) has issued a notice clarifying why the shares of Ajod Insurance Company Limited (AIL) haven't traded in the secondary market although the security was theoretically tradable from Tuesday, Shrawan 13.
NEPSE has informed investors that in order for a security to trade in the secondary market for the first time, the first transaction should happen in the Special Pre Market Session.
After the opening price for the first trading day is set in the pre-market session, the security can be traded in the secondary market during trading hours.
The opening price range was set at Rs. 97 to Rs. 291 for the shares of Ajod Insurance. On Tuesday, 569 buy orders were received during the pre-market session and 567 buy orders were received in the second pre-market session on Wednesday. However, in both the sessions, no sell orders were received. Sell orders weren’t received today either.
This will continue until a buy order can be matched with a sell order in upcoming pre sessions.
Meanwhile, the official website of NEPSE had shown a different LTP for the shares of Ajod Insurance. Through the notice, NEPSE has clarified that it was a technical error and that no such transaction had occurred.