NEPSE Suspends BHDC Trading Over Delayed Disclosure of Key Financial Decisions
The Nepal Stock Exchange (NEPSE) has suspended trading of Bindhyabasini Hydropower Development Company Limited (BHDC) shares after the company failed to timely disclose critical decisions from its board meeting. The company uploaded the information a day late, prompting NEPSE to demand a written clarification within three working days.
NEPSE has suspended share trading of Bindhyabasini Hydropower Development Company Limited (BHDC) for failing to disclose major financial decisions on time.
The company's board met on Ashwin 26, 2083 to finalize key matters regarding its annual general meeting, Book Closure date, and dividend distribution. However, the company uploaded this information to NEPSE's online portal only late the following evening, Ashwin 27, at 5:59 PM.
Securities regulations require listed companies to submit price-affecting decisions to NEPSE on the same day or before market opening the next business day. Due to non-compliance with these reporting rules, NEPSE decided on Ashwin 28, 2083 to halt all trading of the company's shares.
NEPSE has also directed the company to submit a formal written clarification within three working days explaining the delay.