NEPSE suspends trading of FOWAD and NCDB; NEPSE asks companies to provide reason for non-compliance within 24 hours

Nepal Stock Exchange Limited (NEPSE) has suspended in trading of Forward Community Microfinance Bittiya Sanstha Limited (FOWAD) and Nepal Community Development Bank Limited (NCDB) following different reasons.

As per the notice published in NEPSE, the trading of FOWAD has been banned due to the non-compliance of point no. 5 of the recently issue notice regarding information affecting the stock market. The point had stated that the listed companies have to mention the book closure date for cash dividend, bonus shares or right shares as soon as the decision is made or before the start of trade in the next day to NEPSE. However, Forward Community failed to provide the required information within the prescribed time and have been suspended.

On the other hand, Nepal Community Development Bank has faced the suspension due to non-submission of annual report, balance sheet, profit & loss account and other required documents to NEPSE along with its AGM notice.

Both the companies have been directed to provide reasons for the actions within 24 hours by NEPSE.