Why did Nepse ask NIFRA for clarification?

Kathmandu, March 17

The Nepal Stock Exchange (NEPSE) has asked clarification from Nepal Infrastructure Bank Ltd.(NIFRA) saying that it has transmitted information that affects the price of securities.

NEPSE has demanded a satisfactory reply from Nifra regarding the news published in an online magazine recently. Nepse’s attention was drawn to the news published in that online magazine that Nifra would bring 30 million bond and be listed on the London Stock Exchange. Nepse has directed to clarify the truth of the news that Nifra will issue a bond with an interest rate of 8.5 percent within the current fiscal year and will be listed on the London Stock Exchange.

Nifra’s discussions on attracting strategic partners, insurance bonds to be bought by insurance companies, and the company distributing 10 percent dividend from profits are among the reasons why sensitive information and information affecting securities prices have been disseminated without informing the authorities. Nepse has asked for an explanation and has instructed NIFRA to send a satisfactory reply within three working days.