Quarterly accounts a must-show
Kathmandu, November 12:
Every listed company will have to mandatorily submit its accounts to the Securities Board of Nepal (Sebon) on a quarterly basis from now on, according to the Share Registration and Issue Regulation 2065.
“Any company failing to do so will face stern action,” said Dr Chiranjivi Nepal, chairman of the Sebon, the regulatory authority of capital market that has been given enough teeth to safeguard investors’ interests.
Sebon was busy since a year working out the modality to make listed institutions more transparent and inform investors about companies they have invested in. Director on the board Niraj Giri said a company posting profit for at least two fiscals in the last five years and per share networth more than per share paid-up can further issue IPOs.
“The new regulation has also cleared confusion over share issuance on premium,” Dr Nepal said adding that a company can sell its shares adding premium not more than its networth per share verified by the external experts and due diligent audit.
The new regulation is the fifth one brought by the board this year.