NEPSE Resumes Himal Dolakha Hydropower Shares For Trading Following The Company's Submission of an Official Letter of Apology

Nepal Stock Exchange (NEPSE) has released an official circular in relation to informing and setting the date of the refiling of shares, canceling and closing (Book Closure), and regarding the second market transaction of securities of Himal Dolakha Hydropower Company Limited (HDHPC).

HDHPC, one of the listed companies in NEPSE, filed a letter of apology to NEPSE on Shrawan 15 after NEPSE suspended the trading of the company's shares due to a violation of the NEPSE's rules.

Previously, the transaction of HDHPC was stopped because it published a notice saying that 1:0.75 percent of right shares would be issued to the shareholders while the shares were being traded. 

In accordance with the provisions of the Securities Listing Regulations, 2075, the officials of HDHPC did not provide information in accordance with Regulation 22(1) and held a meeting during the trading hours on the same day, depriving the general public of sensitive information and information related to the securities transactions and prices, thereby affecting the price of the securities.

In the same way, if the securities registration book of the organized organization has to be closed, the information including the reason and the period of closure must be given to NEPSE at least seven days in advance. The company also violated the said agreement.

NEPSE had given 3 working days to HDHPC to justify their clause and send an official clarification letter. Due to the same reason, HDHPC sent a letter with a request that there was an error in the accounting out of which the company failed to provide the information on time.

According to the NEPSE, the secondary market trading date of the company's securities has been released from today i.e. Shrawan 17.