National Hydro suspended

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    Jun 21, 2017-

    Sebon has accused the insurer of leaking information before the proposal was endorsed by its AGM

    The Securities Board of Nepal (Sebon) has suspended trading in shares of Everest Insurance and National Hydropower.

     The regulator has suspend trading in National Hydropower Company shares citing concern over an ongoing dispute between the company’s board of directors and the chief executive.

    “The debate has raised questions on the validity of the company’s decisions that could adversely affect investors,” Giri said.

    National Hydropower has recently suspended the company’s director Prakash Rajaure and executive director Ram Bahadur Tamang from their posts.

    The company has a paid-up capital of Rs1.38 billion. The NB Group holds 1.6 million shares in the company.
    “Based on complaints received against the company for leaking sensitive information, trading in its shares has been suspended until further notice,” Sebon said in a statement.

    Source: The Kathmandu Post