BSEC forms body to stop gambling with small firms

Summary:

The stock market regulator formed a three-member committee to report on the small capital companies within the next 30 working days.

Content: 

The stock market regulator is trying to assist the companies with small capital. For example, in 2018, they have given approval to a set of laws that will allow businesses with a paid-up capital of Tk 5 crore to Tk 30 crore to offload shares to public.

The introduction of the small-cap platform had taken place at a meeting of the Bangladesh Securities and Exchange Commission.

Now, the same body has formed a three-member committee to find a way to stop gambling with around 70 companies whose paid-up capital is less than Tk 30crore. As their number of shares are little, they are often gambled in the public offerings.

 Bangladesh Securities and Exchange Commission has asked the committee to make the report within 30 working days.

The members of the committee are Shaikh Shamsuddin Ahmed and Mizanur Rahman, both commissioners of the BSEC, and Mohammed Nazrul Islam, additional director of the regulator.

The database made by the committee will analyze the ways to suit the small capital companies and protect them in the IPO and save them from manipulation, assured by a top official of the BSEC.

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