BSEC seeks listings of major MNCs

Multinational companies operating in Bangladesh will eventually have to join the country’s capital market, Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan said on Friday.

He said the regulator would initially encourage such companies to list voluntarily. If they fail to respond, however, the BSEC has the legal authority to take measures in the public interest.

Masud Khan made the remarks while inaugurating a two-day workshop titled “Capital Market Products and Rules” for members of the Capital Market Journalists Forum (CMJF) at Subarnagram in Narayanganj. The workshop is being held on September 4 and 5.

He said Bangladesh has many large domestic and multinational companies, and bringing good companies to the capital market is essential for its development. The BSEC aims to bring several major and flagship companies to the market within the next six months to one year.

"Come voluntarily. But if you do not come voluntarily, we also have the weapon in our hands," he said.

He said securities law allows the regulator to direct certain companies to list in the public interest. The definition of a "Public Interest Company" will also be established through law.

The BSEC chairman said listing would enhance a company's corporate image and establish its market value, which could later be used for acquisitions or mergers. It would also allow shareholders wishing to exit a business to sell their shares more easily.

He said the commission was working to introduce direct listing and hybrid methods to bring large companies to the market more quickly, as the conventional IPO process often takes considerable time.

Under the proposed hybrid system, a company could raise fresh capital through one part of the process while directly listing existing shares through another.

Masud Khan also said the BSEC planned to introduce an "extended audit" system for IPO applicants. Under the system, auditors would verify not only financial statements but also the actual existence and accuracy of assets, inventories, receivables and supplier information.

He stressed the need to increase institutional investment and said the commission would create greater opportunities for provident funds and other institutional funds to invest in equities and corporate bonds.

Regarding the removal of the floor price, he said MSCI was moving to withdraw its special treatment of Bangladesh's market, with regular index reviews and corporate-event implementation expected to resume from November 2026.

He also highlighted plans to empower the Dhaka Stock Exchange, modernise market surveillance and introduce AI-based surveillance systems.