Trading of Srijana Finance resumes after company issues clarification for 32.50% bonus

Trading of Srijana Finance Limited (SFFIL) has resumed in Nepal Stock Exchange (NEPSE) today after the company sent clarification for its bonus announcement. As per the notice published in NEPSE last Sunday, the BOD meeting of Srijana Finance held on Kartik 6, 2074 had proposed 32.50% bonus share along with cash dividend for tax purpose. However, the company did not notify about this dividend declaration to NEPSE until Kartik 17, 2074. Due to this, NEPSE had suspended its trading until it received clarification. As per Mr. Murahari Parajuli, spokesperson for NEPSE, the company clarified that it had unknowingly forgotten to disclose the dividend declaration to the public. As trading resumed today, SFFIL has already gained almost 4% and is trading at Rs 561 per share. After 32.50% bonus share issuance, its paid up capital will reach Rs 40.06 crore. As per NRB’s directive, being a 1-3 district level class “C” finance company, it had to meet minimum paid-up capital requirement of Rs 40 crore.