Nepse suspends trading of 59 cos

- POST REPORT, Kathmandu

Oct 19, 2014-

Nepal Stock Exchange on Sunday suspended the trading of 59 companies for their failure to pay annual renewal fees, but lifted the suspension on two companies after they paid the charge. According to Nepse, one more company paid the fee later in the day.

Securities Listing Bylaws says a company having a paid-up capital of Rs 10 million should pay Rs 15,000, while those having a paid-up capital of Rs 10-50 million should pay Rs 25,000, according to Nepse Spokesperson Shambhu Pant.

Listed companies having a paid-up capital of Rs 50-100 million should pay Rs 35,000 and those having capital of more than Rs 100 million should pay Rs 50,000 as annual renewal fee. The companies have to pay the amount before mid-October.

Nepse General Manager Sitaram Thapaliya said despite such a low fee, the companies are least bothered about making the payment. “Although we notified them through a public notice, some companies failed to pay the fee. We will continue suspending transactions until they pay the amount,” said Thapaliya. Nepse has named a few companies which have already merged with another company, those declared crisis-ridden by the Nepal Rastra Bank and whose transactions have not taken place for a long.

Published: 20-10-2014 09:23

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