NEPSE Suspended 11 Companies in a Single Day Today; Shares won't Trade from Tomorrow; Why Did This Happen?

NEPSE has suspended a total of 11 companies today. The exchange has frozen trading of 7 hydropower companies, one life insurance company, one development bank, and two microfinance companies.

The suspending decision was made by NEPSE yesterday, i.e. Magh 25, 2077, in response to the letter received from the Securities Board of Nepal (SEBON). Companies are required to submit annual reports to NEPSE and SEBON within the prespecified time window. Companies that fail to submit the necessary documents on time can be suspended from trading by NEPSE. The following 11 companies are suspended because they did not submit their respective annual report for the fiscal year 2075/76 to the regulatory body.

1) Nepal Hydro Developer Limited (NHDL)
2) Panchakanya Mai Hydropower Limited (PMHPL)
3) Panchthar Power Company Limited (PPCL)
4) Radhi Bidyut Company Limited (RADHI)
5) Universal Power Company Limited (UPCL)
6) Rairang Hydropower Development Company Limited. (RRHP)
7) Union Hydropower Company Limited (UNHPL)
8) Gurans Life Insurance Company Limited (GLICL)
9) Karnali Development Bank Limited (KRBL)
10) Kalika Laghubitta Bittiya Sanstha Limited (KMCDB)
11) National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS)

The shares of these companies won't trade from tomorrow until further notice.