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Channel good IPOs to help retain investors' confidence

DSE urges issue managers

Star Business Report
The Dhaka Stock Exchange (DSE) has urged the issue managers to channel good initial public offerings (IPOs) to retain confidence of investors.
At a meeting with representatives of the issue managers of the country on Monday, DSE President Ahmed Iqbal Hassan said: "The number of investors has Increased substantially over the past few years owing to a number of initiatives taken by the government as well as the bourse."
"But to retain die investors we need to have issues with good fundamentals. We presently lack good issues that could bring depth in the market and give investors wider investment scopes," Hassan pointed out.
He said the stock market is gaining maturity and the investors’ awareness is also increasing with the
gradual development of the market. So, investors depend on issue managers to a large extent to process issues with sound track records.
The DSE president said there had been some Issues which did not get listed with die premier bourse of the country as they failed to comply with a number of regulations stipulated in the listing rules of the bourse.
"We understand a good amount of energy and time had been spent by the managers in processing them. However, these issues were not listed as the listing committee found them falling short of the conditions specified in the listing regulation." the president said.
He said the issue managers should not lose heart but should rather put every effort to bring good IPOs to ensure that investors' confidence remains high.
Speaking at the meeting DSE
Chief Executive Officer (CEO) Salahuddin Ahmed Khan said the consultative committee has agreed to bring down the cost of IPOs to encourage them to go public. The issue managers should take this opportunity to woo entrepreneurs to raise funds from the capital market, he added.
The representatives of issue managers lauded the consultative committee's decision of bringing down the IPO cost
They said such cost cutting measures will definitely encourage companies to go public for raising fund from the market
Among others, representatives from Banco Transworld, Capital Market Securities Ltd, Swadesh Investment, Bay Leasing, Grameen Capital Management, EPSL, Union Capital, MFH Financial Securities Ltd and Mutual Securities were present at the meeting.