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BSEC Chairman Invites German Investors to Fuel Bangladesh’s Economic Growth

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In a recent development, Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC), has extended an invitation to German investors and businesses to participate in Bangladesh’s journey towards economic development. This call was made during the “Investment Flash Mob: Networking Launch” event held at the ‘J.W. Marriott Hotel Frankfurt’ in Frankfurt, Germany on Wednesday, November 1, 2023. The event was organized jointly by BSEC and the Bangladesh Investment Development Authority (BIDA).

In pursuit of attracting global investors and promoting investment opportunities in Bangladesh, the ‘Bangladesh Investment Summit’ is being organized consecutively in various countries around the world. The most recent summit took place in Frankfurt, Germany, with the primary agenda being the expansion of trade and commerce and encouraging German investors and businesspersons to consider Bangladesh as an attractive, accessible, and profitable destination for foreign investments.

The event in Frankfurt commenced at 10:00 AM local time, with opening remarks from Md. Nojibur Rahman, Chairman of the Capital Market Stabilization Fund (CMSF) and former Chief Secretary to the Prime Minister. After the welcoming speech, an audio-visual presentation highlighted Bangladesh’s economic development. During the event, Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), presented a talk titled ‘Fifty Years of Bangladesh: The Rise of the Bengal Tiger,’ emphasizing the long-standing bilateral relations between Bangladesh and Germany, commercial ties, and mutual cooperation. He also highlighted Bangladesh’s position as Europe’s largest trading partner.

Furthermore, Professor Shibli Rubayat-Ul-Islam praised the notable achievements of German companies, German NGOs, and institutions in Bangladesh and commended Bangladesh’s strategic position in South Asia. He underscored the potential and opportunities for investment in Bangladesh, advocating for Germany to take an active part in Bangladesh’s developmental journey.

In the context of recent global economic indicators, such as high GDP growth, poverty reduction, declining child mortality, increased food production, female participation in the workforce, expanding domestic markets, demographic dividend, skilled labor force, and political stability, the Chairman of BSEC painted a positive picture of Bangladesh’s economic growth and its various facets. He also emphasized that over the past 15 years, Bangladesh had transformed its economy from a $70 billion to a $465 billion one.

Moreover, he encouraged German investors to explore business expansion and investment in various promising sectors of Bangladesh, and he called upon them to play a significant role in the socioeconomic development of Bangladesh.

At the event, speeches were delivered by Shaikh Yusuf Harun, the Executive Chairman of the Bangladesh Economic Zones Authority (BEZA), and Martin Geskes, the Managing Director of Planquadrat GMbH, as well as Lokman Hossen Mia, the Executive Chairman of the Bangladesh Investment Development Authority (BIDA). In addition, Mokammel Hossen, the Secretary of the Ministry of Civil Aviation and Tourism, Hanns Christoph Siebold, Vice President of the Frankfurt Chamber of Commerce and Industry, and Ali Reza Majid, a member of the Board of Investment Promotion Zone Authority (BEPZA) and Additional Secretary, also spoke at the event. The event featured a question-and-answer session based on the opinions and questions of the attendees.

This successful event in Frankfurt, Germany is expected to boost the participation of foreign and expatriate investors in Bangladesh’s capital markets, leading to a substantial influx of foreign investments into Bangladesh, according to experts present, who expressed optimism about the outcomes.

 

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6 Stock Market Giants Awarded National Export Trophy

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Export Trophy stock market national

In recognition of their contributions to foreign exchange earnings and job creation for the fiscal year 2021-22, 77 companies received the National Export Trophy. Among them, six companies are listed on the country’s stock market, spanning various sectors.

Prime Minister Sheikh Hasina presented the trophies to the representatives of these companies at a ceremony held at the Osmani Memorial Auditorium in the capital on Sunday, July 14.

The awarded listed companies are:

Pharmaceuticals:

Gold Medal: Beximco Pharmaceuticals
Bronze Medal: Square Pharma

Textiles:

Silver Medal: Square Textiles Limited

Ceramics:

Gold Medal: Shinepukur Ceramics

Electronics:

Gold Medal: Walton Hi-Tech Industries

EPZ-Based 100% Bangladeshi-Owned Garment Industry (Knit and Woven):

Bronze Medal: Shama Denims

The ceremony was also attended by State Minister for Commerce Ahasanul Islam Titu, Chairman of the Parliamentary Standing Committee on Commerce Tipu Munshi, Commerce Secretary Md Selim Uddin, Vice Chairman of the Export Promotion Bureau (EPB) Md Anwar Hossain, and President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam.

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Bearish Market Sees Rally for 3rd Consecutive Day

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Dhaka Stock Market DSE, Bourse on the first working day of the week, 14th July, ended with a losing performance in Indices and Turnover from the previous working session. This information is known from DSE sources.

622 crore 25 lakh taka shares were traded on this day. 42 crore 3 lakh less tradings were done in DSE today compared to the previous workday, July 11th, Shares worth Tk 664 crores 28 lakh shares were traded last time, Thursday.

The benchmark DSEX decreased 23.99 points or 5,482 The Shariah-based index DSES lost 4.82 points or 1,202 and the blue-chip index DS30 dropped by 5.24 points or 1,937.

Of the issues traded, 70 advanced, 297 declined and 30 remained unchanged.

Far Chemicals Industries Limited ranked top gainer on DSE, the share price increased by Tk 2.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 22.50 paisa.

Sonali life Insruance Company Limited ranked top loser on the DSE, the share price dropped by Tk 2.30 paisa or 3.00 percent. On this day, the share was last traded at Tk 74.40 paisa.

DSE topped on trade is Taufika Food & Loevello Ice Cream PLC Limited 27 crore 90 lakh takas of company shares have been traded.

A total of 47 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 2 crore 3 lakh 99 thousand 277 shares of the companies were traded. The financial value of which is 43 crore 18 lakh taka

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Techno Drugs Debuts on DSE with 10% Share Price Jump

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Pharmaceutical manufacturer Techno Drugs Limited has commenced trading on the Dhaka Stock Exchange (DSE) today, Sunday, July 14, following its initial public offering (IPO) under the book building method. This information was confirmed by DSE sources.

Listed under the Pharmaceuticals and Chemicals sector, Techno Drugs’ trading code on the DSE is ‘TECHNODRUGS,’ and the company code is 18499.

The company’s shares began trading at Tk26.40 each.

Techno Drugs raised Tk1 billion through its IPO, with a total subscription of Tk24.87 billion . Of this, Tk24.12 billion came from general investors, and Tk611.75 million from eligible investors.

The IPO subscription period ran from June 9 to June 13. The company set the cut-off price at TK34 per share, with shares being offered to investors at a 30% discount, or Tk24 per share.

Shares were allocated to IPO applicants on July 2, 2024, with more applications received than available shares, resulting in a proportional allocation. Domestic investors who applied for shares worth Tk10,000 received 11 shares each, while those who applied for shares worth Tk1 million received 1,166 shares each.

In contrast, expatriate Bangladeshi investors received 20 shares for every Tk10,000 applied for, and 2,016 shares for every Tk1 million applied for.

The company plans to use the IPO proceeds to purchase new machinery, for BMRE (Balancing, Modernization, Rehabilitation, and Expansion) at its Narsingdi factory, construct a building at its Gazipur factory, partially repay loans, and cover issue management costs.

According to the audited financial statements for the fiscal year ending June 30, 2023, the company’s net asset value per share (NAVPS) was Tk27.74 , including revaluation, and Tk22.57, excluding revaluation.

For the fiscal year in question, Techno Drugs reported earnings per share (EPS) of Tk2.08 , with a weighted average EPS of Tk3.25 over the past five years.

Imperial Capital Limited and EBL Investments Limited are managing the IPO issue.

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