Nepse suspends 59 companies for not paying annual listing fee on time
Mon, Oct 20, 2014 12:00 AM on Others,
ShareSansar, October 20:
Nepal Stock Exchange (Nepse) has closed the trading of 59 listed companies after they failed to post the renew fee to the Nepse. 
Trading of 59 companies could not be held on Sunday as the stock exchange company suspended their trading for not paying the renewal fee on time.
However, trading of three companies resumed later in the afternoon after they paid the fee, according to the disclosure of Nepse posted at its website. According to those paying the fees later are Paschimanchal Finance Company Ltd, Progressive Finance Limited and Jhimruk Bikas Bank Ltd.
“The trading has been suspended of those companies who do not pay their annual listing fee as per the regulation. Trading will be resumed after they post the fee,” Murahari Parajuli, deputy spokesperson of Nepse told ShareSansar.
According to Securities Listing Bylaws, listed companies are required to pay the annual renewal fee to the Nepse within the first three months of the beginning of the new fiscal year.
Those being suspended for not paying the fees include the companies whose share trading are held regularly like Sana Kisan Bikas Bank, Grand Bank, City Development Bank and Matribhumi Bikas Bank Ltd, among other companies, according to the statement of the Nepse released on Sunday.
Likewise, the list of suspended companies also includes those who have already completed merger. Gaurishankar Development Bank Ltd, Madhyamanchal Gramin Bikas Bank Limited, Kist Bank, Paschimanchal Grameen Bikas bank Ltd, Purwanchal Grameen Bikash Bank Limited, Zenith Finance Limited are the companies that are already merged with other institution.
Yak and Yeti Hotel Ltd, Nepal Film Dev Company Ltd, Harisiddhi Brick and Tile Factory Ltd, Gurkha Development Bank, NB Insurance Company Ltd and Gorakhakali Rubber Udhyog Ltd, are some of the companies whose share trading have not been held for past many years, but appears in the list of the companies of Nepse who do not pay the annual listing fee.
