NEPSE suspends trading of 5 banks; Accuses companies for not operating as per NEPSE’s directives

Nepal Stock Exchnage (NEPSE) has suspended the trading of 3 commercial banks and 2 development banks. NEPSE has suspended the trading of Sunrise Bank Limited (SRBL), Himalayan Bank Limited (HBL), Mega Bank Limited (MEGA), Mission Development Bank Limited (MIDBL) and Shangrila Development Bank Limited (SADBL).

NEPSE has suspended trading in the shares of the above mentioned banks stating that the banks have been working against the provision of Securities Listing Regulations and NEPSE’s directives. NEPSE has accused the banks of not providing the details to be submitted and for not running the organizations as per the directives.

Recently, NEPSE had issued a circular for the companies mentioning the system of flow of information. However, NEPSE has found the 5 banks operating against the provisions. Along with that, NEPSE has also accused the banks of not following the agreement made when the companies were being listed in NEPSE.

The trading in the shares of the companies will be resumed from next working day after enquiry and receiving proper information from the banks.