Saturday, December 2, 2023

SEC announces capital market master plan

The Securities and Exchange Commission on Sunday announced a 10-year capital market master plan which would allow the commission to operate independently of the government. According to the plan, the SEC will be able to formulate its own budget without permission of the government and will also able to recruit manpower according to its

SEC approves draft demutualisation act

The Securities and Exchange Commission on Wednesday approved the draft demutualisation act which will separate the management form the ownership of the bourses to do away with the conflict of interests. The approval came at a meeting on Wednesday presided over by the SEC chairman M Khairul Hossain at the commission’s board room

SEC okays Tk 24cr Global Chemical IPO

Warns Swadesh Investment The Securities and Exchange Commission on Wednesday approved a proposal of the Global Heavy Chemicals Limited to raise Tk 24 crore through initial public offering. The company will float 1.2 crore ordinary shares with an offer price of Tk 20 including a premium of Tk 10. According to the audited accounts of ... Read more

Waiver of Margin Loan Interest

SEC extends deadline for brokers, ­­m-bankers to Sept 30 The Securities and Exchange Commission on Tuesday extended the deadline to September 30 for the brokers and the merchant bankers to waive the interest of margin loans given to small-scale investors in 2011. ‘The commission has taken the decision at an emergency meeting today following an

Aamra Technologies’ IPO approved

The Securities and Exchange Commission yesterday approved the initial public offering prospectus of Aamra Technologies Ltd (ATL) to raise Tk 51.77 crore from the public. The approval came at a meeting of the stockmarket regulator with SEC Chairman M Khairul Hossain in the chair. Using the fixed price method, ATL will float 2.15 crore ordinary ... Read more

SEC okays book-building method amendments

Withdraws cap on P/E ratio for IPO The Securities and Exchange Commission on Tuesday finalised the book-building method for initial public offering withdrawing the proposed cap on price earning ratio or net asset value of any company, bowing down to pressure of a section of stakeholders. ‘After analysing the suggestions from the stakeholders and opinion ... Read more

Face value of shares, MF units to turn Tk 10 from Dec

The Securities and Exchange Commission on Tuesday decided that the face value of shares of all companies and units of all mutual funds would have to be converted to Tk 10 from December 1. Of the 231 companies listed with the Dhaka Stock Exchange, currently 124 companies have shares of Tk 100 face value and ... Read more

Stocks pass four bullish weeks

Stocks gained for a fourth week with high turnover due to active participation of small and institutional investors and the possibility of an increased inflow of money into the market. The benchmark general index, DGEN, gained 4.22 percent or 266 points, to end the week at 6,578. The yardstick of DSE gained 13.89 percent or ... Read more

Investors take to streets again as stocks plunge

Share market investors took to the streets in rowdy demonstrations again on Wednesday protesting at the free fall of share prices as the Dhaka stocks plunged by 151.74 points on the day. They shouted slogans demanding immediate resignation of the finance minister, the Bangladesh Bank governor and the Dhaka Stock Exchange

Experts lambast govt for apathy to mend stock meltdown

Experts on Wednesday came down heavily on the government for taking no steps at all to stabilise the country’s capital market, blaming its foot-dragging over reforming the Securities and Exchange Commission and indifference to re-infuse investors with fresh confidence for the continued reign of volatility over the market for five long

SEC gets new chairman

The government on Sunday appointed the Investment Corporation of Bangladesh chairman M Khairul Hossain as the new chairman of the Securities and Exchange Commission, withdrawing Ziaul Haque Khondker. Khairul Hossain, who was also a professor of finance at Dhaka University, joined SEC on Sunday

Bangladesh Fund floated

The much-talked-about ‘Bangladesh Fund’ entered the stockmarket formally on Thursday by purchasing shares of the state-run Titas Gas. The Securities and Exchange Commission (SEC), a day ago, approved the registration of Tk 5,000 crore fund

Further probe needed before action: Muhith

He gives no timeline for fresh probe into share scam The government on Saturday made public the investigation report on January’s stock market debacle suggesting further investigation before bringing charges against any individuals or organisations but gave no timeline for a fresh probe. The finance minister, Abul Maal Abdul Muhith, at a briefing on Saturday ... Read more

Banking Division offers recipe for stockmarket

The Banking Division of the finance ministry has recommended 11 steps to the government as measures to curb stockmarket manipulation. The recommendations were based on a review of a report submitted by a stockmarket probe committee. According to the Banking Division, a law should be in place to regulate the issue of preference

HC asks govt to publicise share scam report

The High Court on Tuesday asked the finance ministry to publicise within ‘reasonable time’ the probe report on the recent share market scam in which thousands of investors lost their money and many small investors became bankrupt. The High Court vacation bench of Justice Syed Mohammad Ziaul Karim and Justice

Tk 5,000cr Bangladesh Fund okayed

The Securities and Exchange Commission on Monday granted the much-awaited permission to float on the country’s capital and money markets the Tk 5,000-crore Bangladesh Fund, an open-ended mutual fund sponsored by the Investment Corporation of Bangladesh and seven other state-run financial institutions. In a meeting in the evening, the commission approved the trust deed and ... Read more

HC rejects brokers’ pleas to lift SEC’s suspension order

The High Court on Tuesday summarily rejected the petitions of the five brokerage houses and merchant banks against the Securities and Exchange Commission’s decision to suspend their activities for a month for allegedly manipulating the capital market. The bench of Justice AHM Shamsuddin Chowdhury and Justice Sheikh Md Zakir Hossain