BSEC issues strict warning to merchant bankers over IPO inactivity

 
The Bangladesh Securities and Exchange Commission (BSEC) held a high-level meeting with top representatives of the country's merchant banks to address critical issues affecting the capital market.

During the session, held at the BSEC Multipurpose Hall in Agargaon in the city, the regulator issued a stern warning to issue managers regarding their failure to bring new companies to the market, said a press release.

BSEC Chairman Khondoker Rashed Maqsood strictly cautioned merchant bankers and issue managers who have failed to comply with their registration conditions, according to BSS report. 

These terms require every licensed issue manager to bring at least one new company or Initial Public Offering (IPO) application to the market every two years, he added.

The Chairman emphasized that those failing to meet this requirement must ensure immediate compliance.

The Chairman reiterated that the commission is dedicated to the long-term and sustainable development of the capital market while ensuring full protection for investors.

The meeting was attended by BSEC Commissioners Mohsin Chowdhury, Md. Ali Akbar, Farzana Lalarukh, and Md. Saifuddin, alongside other senior executive directors of the commission.