Dhaka Stock Exchange and Chittagong Stock Exchange yesterday got more claws from securities regulator in approving initial public offering (IPO) and overseeing pre-and post listing requirements and compliances.
The Bangladesh Securities and Exchange Commission has brought massive changes in listing regulations of both the stock exchanges to give them more authority in listing regulations as a primary regulator.
“The commission has approved the draft listing regulations proposed by the DSE and CSE,” said a statement issued yesterday.
From now on, for any public offer the exchanges will be able to put primary recommendation, get authority to call or require additional disclosure, information documents, certification and clarification, and give final recommendation along with a deceleration.
The exchanges will also be able to give its recommendations for listing for listing equity securities, mutual fund and debt securities.
In case of direct listing and re-listing requirements, disposal of shares and publication of offer documents, the bourses can recommend.
For post listing continuous compliance requirements like preparation of financial statement, auditing of financial statements, prior notice for adoption of quarterly financial statements, deceleration of quarterly NAV per share, EPS and so on, and submission of annual audited financial statements, posting of financial statement in website, submission of annual report and dissemination price sensitive information, the DSW and CSE will oversee.
Other regulations such as listing and annual fees for equity securities, mutual fund and debt securities, requirement on having of official website of the issuer of listed securities and minimum content of the website, prohibition on false and misleading information and Publicly Listed Companies membership requirement will be monitored.
DSE and CSE will have authority to make queries on unusual movement in price of securities, voluntary de-listing of securities and inspect.
