Companies listed at Nepal Stock Exchange (Nepse) now have to submit their financial informations first to the Nepse electronically before making them public. By launching software on Friday, the Nepse has strictly prohibited the companies to make their information public before receiving its approval.

The online system is expected to control possible anomalies in secondary market due to the information leak made by the listed companies. According to Nepse, the system will increase the access of individual investors to the financial information of listed companies which enables the potential investors to obtain details about the companies before deciding whether to buy their shares or not.

The companies need to post their current profile, financial report, board of director profile and information on corporate activities on the Nepse portal. They have to provide information to the Nepse immediately after the decision of the companies’ board of director.

At present too, the companies have to disclose their financial information only after receiving approval from Nepse which is being carried out manually. According to Nepse, the companies take even a number of days for receiving final approval.