NEPSE Suspends Trading of Upper Syange Hydropower Shares for Delay in Disclosure

The Nepal Stock Exchange (NEPSE) has suspended trading of Upper Syange Hydropower Limited after the company failed to disclose price-sensitive information on time. NEPSE has sought clarification from the company while halting its trading activities.

The company’s board meeting held on Bhadra 11 (August 27) had decided to hold its 9th Annual General Meeting on Ashoj 9 (September 25) with an agenda to issue 100% rights shares. However, the company only submitted this decision to NEPSE on Bhadra 16 (September 1).

According to Regulation 22(1) of the Securities Listing Regulations, 2075, any decision or information that directly affects share prices must be submitted to NEPSE the same day or before the market opens the following day.

Since Upper Syange Hydropower violated this provision, NEPSE has suspended its share trading and directed the company to submit clarification within three working days.