FE Report (November 2, 2010)
The consultative committee of the securities regulator has formed a four-member body to examine whether the depository participants (DPs) will be eligible to take care of the money submitted for IPOs.
The body was formed to lessen the sufferings of the IPO applicants who deposit money with different banks standing on queues for hours.
The members of the committee are two chief executive officers of the stock exchanges, the president of Merchant Bankers Association of Bangladesh and the chief executive officer of Central Depository Bangladesh Limited.
The consultative committee took this move at a meeting with its member Mansur Alam in the chair. The meeting was held at the Securities and Exchange Commission (SEC) office Monday.
At the meeting, Bangladesh Association of Publicly Listed Companies' president Salman F Rahman, Dhaka Stock Exchange (DSE) president Shakil Rizvi, Merchant Bankers Association of Bangladesh president Arif Khan and SEC's executive directors concerned were present.
"The committee has been formed to make easier the system of collecting the IPO money," Arif Khan said.
The committee has decided to propose to the regulator to allow the DSE members as under-writers of different issues so that they can inspire different companies to float their shares.
Earlier, the DSE members were eligible to work as under-writers of listed companies.
At the meeting, the committee also discussed the price-breaker for a company to fix its maximum tradable price for a certain period. But the committee did not take any final decision about the price-breaker.
The consultative committee thanked the securities regulator as it paved the way for the companies to go public with a minimum paid-up capital of Tk 300 million.
The consultative committee of the securities regulator has formed a four-member body to examine whether the depository participants (DPs) will be eligible to take care of the money submitted for IPOs.
The body was formed to lessen the sufferings of the IPO applicants who deposit money with different banks standing on queues for hours.
The members of the committee are two chief executive officers of the stock exchanges, the president of Merchant Bankers Association of Bangladesh and the chief executive officer of Central Depository Bangladesh Limited.
The consultative committee took this move at a meeting with its member Mansur Alam in the chair. The meeting was held at the Securities and Exchange Commission (SEC) office Monday.
At the meeting, Bangladesh Association of Publicly Listed Companies' president Salman F Rahman, Dhaka Stock Exchange (DSE) president Shakil Rizvi, Merchant Bankers Association of Bangladesh president Arif Khan and SEC's executive directors concerned were present.
"The committee has been formed to make easier the system of collecting the IPO money," Arif Khan said.
The committee has decided to propose to the regulator to allow the DSE members as under-writers of different issues so that they can inspire different companies to float their shares.
Earlier, the DSE members were eligible to work as under-writers of listed companies.
At the meeting, the committee also discussed the price-breaker for a company to fix its maximum tradable price for a certain period. But the committee did not take any final decision about the price-breaker.
The consultative committee thanked the securities regulator as it paved the way for the companies to go public with a minimum paid-up capital of Tk 300 million.
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