Opinions sought from DSE, CSE

The securities regulator has sought opinions from both the bourses on the proposed IPO (initial public offerings) application process to make the initiative more purposeful, officials said.

In a letter, the Bangladesh Securities and Exchange Commission (BSEC) asked the bourses to submit their opinions by April 30 this year.

A DSE official the BSEC has also sought the list of DPs interested to participate in the pilot project of launching the proposed process.

As per the proposed process, the brokerage firms will have to make sure that the IPO applicants have required amount of money with their respective BO (beneficiary owner's) before applying for the IPOs.

After holding the IPO lottery the money of successful applicants will be transferred to the account of the issuer company.

As a result, the IPO seekers do not need to stand in the long queue for depositing required amount of money through bank accounts. At the same time, the unsuccessful investors also get back their money quickly.

The securities regulator recently took the decision of easing the procedure of making applications for the IPOs through DPs (depository participants) following the demand of the bourses.
Share on Google Plus

About Jessica Hornberger

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.
    Blogger Comment
    Facebook Comment