Oct 26, Kathmandu - ​​​​​​​Kathmandu's five-star hotel Taragaun Regency Hotel (Hyatt Regency Hotel), listed on the Nepal Stock Exchange (NEPSE), has issued a notice of indefinite closure from Friday.

The hotel has announced that it will remain completely closed indefinitely, citing damage sustained during the Genji protests.

With all hotel services closed, investors are increasingly concerned about what will happen to share trading on the NEPSE.

NEPSE spokesperson Murahari Parajuli said that trading is still ongoing even though the company has issued a notice.

Generally, listed companies have to issue a notice of the company’s closure, citing specific reasons, and apply to the regulator to suspend trading, said Parajuli.

“The company applies to the Securities and Exchange Board of Nepal (SEBON) with a decision to close down and suspend or suspend trading. After that, SEBON should instruct the market operator, NEPSE, to stop trading as per the application,” he said about the related arrangements.

Spokesperson Parajuli informed that trading will continue as there has been no instruction from the board to stop trading so far.

The SEBON has been closed for the past 34 days. Out of the total shares of 19.621 million 202 units in Taragaun, 69.15 percent or 13.568 thousand 61 units are invested by the general public.

The remaining 30.85 percent or 60.53 thousand 141 units are invested by the founding shareholders.

In the fiscal year 2081/2082, the company made a total profit of 515.4 million, while the paid-up capital of the company is over 1.96 billion. The company's net worth is also 161 rupees 65 paise, while the earnings per share is 26 rupees 27 paise. Since the fiscal year 2080/81, the company has not distributed dividends from profits to investors.