KATHMANDU, Feb 19: The Securities Board of Nepal (Sebon) has asked the listed companies to make public their financial reports on time.
Expressing its concern over the delay in publishing the financial details by a number of listed companies, the regulator has asked them to publish their financial reports by mid-March at the latest. “The listed companies defying the guideline will face action,” reads a directive issued by Sebon.
Sebon to make public financial reports of all listed companies
According to Sebon, it will keep an eye on such companies to ensure the companies have been disseminating related information on time. As per the law, the listed companies have to make public their quarterly reports, annual reports and other related indicators to inform the potential investors.
Companies not abiding by the law are suspected to be allegedly involved in insider trading, for their vested interests. In the past, the securities market regulator took action against a number of such companies on the charge of carrying out misconduct.
As per Sebon’s guideline, Nepal Stock Exchange is required to publish on its web portals the five-year financial reports of the listed companies. The details should include the companies’ capital structure, annual revenue, expenses, reserve fund, earning per share, price-revenue ratio, net worth per share and dividend distribution.
