The notice published by NEPSE today writes that “the security AKPL has been now suspended
as per the letter received from CDSC”.
AKPL had debuted its trading on NEPSE from 3rd Baisakh 2074. Since the opening of its transactions, the stock price of AKPL rocketed 10% for two consecutive trading days. The hydropower company had its stock price increased by 10% on Sunday and again 10% on Tuesday. While the stock price was heading for third consecutive upper circuit, NEPSE came up with a notice to suspend the trade in AKPL on Wednesday.
In a conversation with merolagani, Mr. Murahari Parajuli, speaker of NEPSE clarified that the hydropower company requested to suspend its trading after the company mistakenly credited the shareholder’s demat account twice for the same amount of stocks. NEPSE then suspended the trading of AKPL after the formal proposal from CDS & Clearing limited as a measure of precaution.
Nepal Stock Exchange (NEPSE) has listed 1.50 crore unit shares of Arun Kabeli Power Limited.
Siddhartha Capital Limited had managed the IPO of Arun Kabeli. However, after the allotment of IPO shares, Arun Kabeli itself is functioning as the share registrar (RTS) for AKPL.
