Home ›› 02 Dec 2022 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC) is adopting various measures to digitalise the initial public offering (IPOs) process to ensure transparency in companies’ listing with the capital market, BSEC Commissioner Dr Shaikh Shamsuddin Ahmed said.
It would also enable companies to obtain faster the securities regulator’s approval for their IPO proposals, Shaikh Shamsuddin said while speaking at a two-day training programme titled ‘Initial Public Offerings (IPO): Processes and Procedures’ organised by the Dhaka Stock Exchange (DSE) in the capital Thursday.
“We are digitalising the IPO processes so that any stakeholders, especially the auditors, cannot influence the procedures,” the BSEC commissioner added.
“The BSEC is trying to source $8-10 million from the World Bank to fully introduce the fintech technology to handle the IPO process”
The funds are expected to be available in the next few months. Once it comes, the regulator would start working to fully ensure transparency in the entire IPO process, Shaikh Shamsuddin Ahmed continued.
“The BSEC is now bound to take a document-based decision in approving the IPOs because of the full presence of digitalisation.”
The BSEC Executive Director and Spokesperson Rezaul Karim and DSE’s Acting Managing Director Saifur Rahman Majumdar were present, among others, at the event.
