A total of 51 IPO (initial public offering) proposals, mostly from textile sector, worth Tk50bn are awaiting approval from the securities regulator.
Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
A
total of 51 IPO (initial public offering) proposals, mostly from
textile sector, worth Tk50bn are awaiting approval from the securities
regulator.
Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
- See more at: http://www.dhakatribune.com/stock-market/2013/may/13/51-ipos-awaiting-approval-more-two-years#sthash.1XRNPdVU.dpuf
Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
- See more at: http://www.dhakatribune.com/stock-market/2013/may/13/51-ipos-awaiting-approval-more-two-years#sthash.1XRNPdVU.dpuf
A
total of 51 IPO (initial public offering) proposals, mostly from
textile sector, worth Tk50bn are awaiting approval from the securities
regulator.
Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
- See more at: http://www.dhakatribune.com/stock-market/2013/may/13/51-ipos-awaiting-approval-more-two-years#sthash.1XRNPdVU.dpuf
A
total of 51 IPO (initial public offering) proposals, mostly from
textile sector, worth Tk50bn are awaiting approval from the securities
regulator.Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
- See more at: http://www.dhakatribune.com/stock-market/2013/may/13/51-ipos-awaiting-approval-more-two-years#sthash.1XRNPdVU.dpuf
Some of the companies submitted their applications more than two years ago, officials said.
Bangladesh Securities and Exchange Commission (BSEC) is supposed to reject or approve the proposals within 60 days of application as per the capital issue rules.
The current sluggish market has made us to be cautious in giving the approval, BSEC chairman M Khairul Hossain said. “We are cautiously giving IPO approval taking the present market situation into the account.”
He said the commission is working to approve the IPO proposals considering the merits of prospectus.
Only two companies – Bengal Windsor Thermoplastics Limited and Orion Pharma Limited – have so far been approved this year to go public.
Because of the delayed approval, the financial statements of many companies applied for going public have already expired as the companies were not allowed to submit the reports not older than 120 days at the time of submission of the IPOs.
On April 3, 2011, Energyprima submitted IPO application to raise around Tk3bn with offer price of Tk95 per share, including a premium of Tk85. But on March 3, 2012, the company revised its IPO application by reducing the offer price to Tk46 each to raise Tk1.75bn in line with the BSEC directive.
The company has been the oldest applicant to go public.
Like Energyprima, Keya Cotton, MP Spinning Mills, Saif Powertech Limited and others also revised their IPO applications.
Other companies waiting to be listed with the stock exchanges are Crystal Insurance, Dhaka Regency Hotel and Resort, Shahibazar Power, Far East Knitting, South Asia Insurance, Paramount Textile, Hamid Fabrics, Ananda Shipyard, Matin Spinning, Keya Spinning, United Power, IFAD Autos, Western Marine Shipyard, Dragon Sweater, Shurwid Industries, Mozaffar Hossain Spinning, Bangladesh Building System, Tung Hai Knitting, Shamsul Alamin Real Estate, Summit Oil, Fibre Shine, Hwa Well Textile, Fareast Finance and Investment, Otobi, Royal Denim, Genuity System, The ACME Laboratories, Bangladesh Commerce Bank, Alliance Feed, Aman Feed, Doreen Power Generation, BMSL Investment, Khulna Printing, Hemple Rhee, AFG Agro Biotech, Bangladesh Steel Re-Rolling, Khan Brothers PP Woven, Peninsula Chittagong, Energypac, Power Generation, Ratanpur Steel, National Finance, Shasha Denims, Aman Cotton, Aman Cement, Cutting Edge Industries, MEB Poy Manufacturing, Emerald Oil Industries, Simtex Industries.
- See more at: http://www.dhakatribune.com/stock-market/2013/may/13/51-ipos-awaiting-approval-more-two-years#sthash.1XRNPdVU.dpuf
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