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Dhaka Tribune

BSEC approves regulations to attract small-cap companies to stock market

Update : 26 Apr 2018, 10:03 PM
The stock market regulator has given approval to a set of laws that will allow businesses with small capital to enter the stock market. At a meeting of the Bangladesh Securities and Exchange Commission (BSEC) on Thursday, presided over by Chairman M Khairul Hossain, he approved the proposals for public interest, according to a BSEC press release. “The regulator is going to introduce a small cap platform, where a company having a paid up capital of Tk5 crore to Tk30 crore will be able to offload shares to the public,” DSE Managing Director KAM Majedur Rahman said. Following proposals from the two bourses, the commission approved the BSEC Qualified Investor Offer by Small Capital Companies Rules 2016 that will be published on its website and in newspapers for public review. On March 27, DSE submitted a number of proposals with necessary amendments to BSEC Qualified Investors Offer by Small Capital Companies’ Rules 2016, as well as a draft DSE small capital companies listing regulations. On January 28, the CSE also submitted draft listing regulations. The commission at the meeting also approved the proposal for making Dhaka Stock Exchange (Listing of Small Capital Companies) Regulations 2018 and Chittagong Stock Exchange (Listing of Small Capital Companies) Regulations, 2018, with some changes. The regulator made the decision with an aim to form a small capital board on bourses. Other initiatives include automation of Over-the-Counter (OTC) market, bulletin board for mutual funds, platform for small cap companies, changes in book-building method and reforms in other regulations, DSE MD Majedur said. The regulator at the meeting also approved the draft BSEC shares acquisition rules 2018, with some changes.
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