The Nepal Stock Exchange has officially suspended the share trading of Bindhabasini Hydropower Development Company Limited due to the company not giving required notice on time.
The Nepal Stock Exchange (NEPSE) has taken action against Bindhabasini Hydropower Development Company Limited by stopping its stock trading. The reason for this step is that the company failed to share important information with the public in a timely manner. NEPSE has also asked the company to give a written explanation for this delay within three working days.
Details of the Meeting
According to the official letter issued by NEPSE on Ashoj 28, 2083, the company held a board of directors meeting on Ashoj 26 at 3:30 PM. During this meeting, they made decisions about their annual general meeting, book close, and dividend distribution. However, the company only updated this information on the NEPSE online system (NOTS) on Ashoj 27 at 5:59 PM.
Reason for Suspension
As per the Securities Listing Bylaws, 2075, any company listed on the stock exchange must report information that affects share prices either on the same day or before trading opens on the next day. Because the company did not follow this rule, NEPSE decided to stop their share trading under regulation 16(1)(kha) on Ashoj 28. The company is now required to send their official explanation to NEPSE within three working days regarding why the information was not provided on time.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
