The Securities and Exchange Commission (SEC) will soon announce guidelines for allowing green field projects to raise capital from the market, SEC sources said in Dhaka yesterday reports BSS

They said t he final draft of the guidelines which had been prepared by the SEC and copy of which had been sent to dif ferent related bodies for their opinion, was expected to be approved by the SEC authorities in the next few days

Sources said the arrangement would certainly create great enthusiasm among the small entrepreneurs to go fof bigger projects by raising fund from the country’s stock mar ket against a green field company. that Is. a project which has not yet gone Into production but has acquired land for the purpose.

The process will be much more viable and easier than getting bank loan for the implementation of a new project, they said.

However, they said in the draft guidelines it has been strongly recommended that a good track record of the entrepreneur should be a prerequisite for allowing a green field company to raise funds.

Officials said that it had also Ix-en suggested in the guidelines that the green field pro ject should be allowed to. raise.

in phases, only the entire paid up capital.

The arrangement will cer tainly encourage more owners of private companies to go in a bigger way and join the country's capital market and increase Its depth." one official said

He said the SEC did not have any green field project right now under Its consideration but lots of queries are coming in from enthusiastic entrepreneurs on the draft guidelines.

The official said "We are very hopeful that the guidelines would make a very good impact on the overall market situation of the country."