NEPSE Resumes Share Trading of Rastra Utthan Laghubitta (RULB)

Nepal Stock Exchange (NEPSE) has released an official circular in relation to the resuming of secondary market securities transactions of Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB).

Previously, the transaction of RULB was stopped because the company declared the dividend for the Fiscal year 2078/79 during business hours of the Nepal Stock Exchange (NEPSE).

In accordance with the provisions of the Securities Listing Regulations, 2075, the officials of the companies did not provide information in accordance with Regulation 22(1), and the letter regarding the dividend declaration of the Fiscal year 2078/79 by RULB was received by Nepal Stock Exchange at 11.48 AM during business hours on Baishakh 19, 2080, depriving the general public of sensitive information and information related to the securities transactions and prices, thereby affecting the price of the securities.

Since RULB contradicted the rules outlaid by NEPSE, the trading of the securities of the said company had been suspended. Likewise, within 3 (three) working days, the company was required to submit an explanation in this regard.

Accordingly, RULB has expressed through a letter of commitment to NEPSE to not repeat such a mistake in the future along with an apology for that error.

Rastra Utthan has proposed a 15% dividend worth Rs. 3.9 Crores for the fiscal year 2078/79. This is the company's first dividend after being listed in NEPSE.