| June 27, 2019

Listed cos can now post their info on Nepse website

Listed cos can now post their info on Nepse website
KATHMANDU, May 27: Nepal Stock Exchange (Nepse) has added a new feature on its website which allows listed companies to post their notice, reports and other information directly into the website.

Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal launched the new feature amid a ceremony held at the office of Nepse on Friday.
Nepse believes that the new feature will help the investors to get 'quick and credible' information of listed companies.

"The new system has been introduced as part of the efforts of the exchange company to overcome the shortcomings on information dissemination process," Sitaram Thapaliya, general manager of Nepse, said.

Issuing a statement, Nepse said that listed companies themselves can enter their information on the website -- www.nepalstock.com.np. Such information would be verified by prescribed Nepse official before approving it for public display on the website, according to the statement.

Nepse will also enter such information into its system. Similarly, it will be archived by the Nepse's Information and Technology Department, while the Surveillance Department will monitor the overall process.

Earlier, information display on Nepse website was largely a manual process whereby listed companies would send information, notice and reports to the Nepse first. Nepse officials later post such information on the website. "It was a time consuming process," reads the Nepse statement.

There were even complaints about the risk of insider trading as such information could be easily exploited by those involved in the posting process.

"While posting any decision of the company, listed companies should post the decision the next day before the trading time if the decision is made in the evening. If the decision is made in the morning, it should be posted immediately," the statement added.

Speaking at the launching ceremony, Securities Board of Nepal (Sebon) chairman Rewat Bahadur Karki said that introduction of new feature will send a message that the Nepse has embraced the necessity of information dissemination in the capital market.