NEPSE bans 40 companies for conducting transactions

Kathmandu, Oct. 19:

Nepal Stock Exchange Limited (NEPSE) has banned the securities transactions 40 companies listed at the only exchange in the country as they failed to submit the annual renewal fee.


It said that their shares transaction will not be allowed from Sunday, October 20.


However, the shares transaction will be resumed after they pay the renewal fee, said the Nepse.

The companies that are restricted from shares transaction include blue chip companies like Unilever Nepal and Nepal Telecommunication Company.


Listed companies must renew themselves to continue with their shares transaction at the stock exchange. The renewal should be done before the three months after the end of the fiscal year.


The banned companies are from microfinance, trading, hotel, manufacturing and processing, development bank and other groups.


The highest number of companies restricted from shares transaction are from microfinance with 19 companies, followed by 11 manufacturing and processing, 3 each from trading and development bank, and 2 each from hotel and other groups. Some of the companies, like Birat Shoe, Arun Vanaspati and Gorkahkali Rubber, are being restricted for last many years.


The companies restricted from shares transaction:

Microfinance companies:

1.      NMB Microfinance

2.      Civil Microfinance

3.      Janauththan Samudayik Microfinance

4.      Kalika Microfinance

5.      Mahuli Samudayik Microfinance

6.      Naya Nepal Microfinance

7.      Nerude Micrifinance Development Bank

8.      Global IME Microfinance (Reliable)

9.      Sumit Microfiance

10.  Omi Microfinance

11.  Mero Microfinance

12.  RSDC Microfinance

13.  Arambha Microfinance

14.  Nadep Microfinance

15.  Samudayik Microfinance

16.  Asha Microfinance

17.  Nepal Agro Microfinance

18.  Gurans Microfinance

19.  Infinity Microfinance

Trading

1.      Nepal Welfare Company

2.      Bishal Bazar Company

3.      Nepal Trading Limited

4.      Hotel Soaltee Limited

5.      Yak and Yeti Hotel

Manufacturing and Processing

1.      Arun Vanaspati Industry

2.      Birat Shoe Limited

3.      Butwal Spinning Mills

4.      Fleur Himalayan Limited

5.      Gorakhkali Rubber Limited

6.      Hari Siddhi Brick and Tile Factory

7.      Jyoti Spinning Mills

8.      Nepal Bitumin and Barrel Industry

9.      Raghupati Jute Mills

10.  Bhrikuti Paper Limited

11.  Unilever Limited

Other

1.      Nepal Telecommunication Company

2.      Nepal Film Development Company

Development Bank

1.      Bhargav Development Bank

2.      Corporate Development Bank

3.      Excel Development Bank

Published in The Rising Nepal daily on 20 October 2019.