Stocks
BSEC Spurs Capital Market Growth with 141 IPO Approvals Since 2009
The Bangladesh Securities and Exchange Commission (BSEC), a pivotal regulator of the country’s capital market, has played a crucial role in facilitating the issuance of Initial Public Offerings (IPOs) by 141 companies from 2009 to 2023. Additionally, the commission greenlit 83 right offer proposals and two repeat public offers by various entities.
According to BSEC Chairman Professor Shibli Rubayet-UL-Islam, the regulatory body has been steadfast in its commitment to fortify the capital market, aligning with the visionary policy and dynamic instructions of Prime Minister Sheikh Hasina. The focus has been on cultivating a robust and stable market, demonstrating resilience even amid global challenges like the Covid-19 pandemic and the Russia-Ukraine war.
Over the past 15 years, BSEC has implemented numerous reforms, amended acts and rules, and organized investment summits internationally. The commission approved 13 Qualified Investor offer proposals and 1951 capital-raising proposals, and facilitated the creation of over 100 mutual funds, alternative investment funds, and Exchange Traded Funds (ETFs).
In a significant move, a new draft Act, combining the Securities and Exchange Ordinance, 1969, and the Bangladesh Securities and Exchange Commission Act, 1993, is under review. This marks a strategic effort to streamline regulations and enhance the governance of the stock exchanges, brokers, and listed issuer companies.
For the robust development of the bond market, a new Debt Securities Rules, 2021 has been introduced. Additionally, the creation of a Capital Market Stabilization Fund (CMSF) underscores the commitment to safeguarding the interests of investors.
BSEC Commissioner Dr Rumana Islam emphasized the commission’s strides in digitizing the capital market, recognizing the significance of technology in ensuring investor resilience. Initiatives include allowing stock exchange brokers to establish their own Order Management Systems (OMS), setting up data centers, and implementing a social media monitoring cell to counteract market rumors.
Furthermore, BSEC has undertaken digital transformation measures such as launching an online Report Submission Platform and introducing a Customer Complaint Address Module. The implementation of an online IPO application submission system and the creation of an online database for Independent Directors are also underway.
The bond defaulter monitoring system is in the developmental phase, showcasing BSEC’s commitment to continuous improvement and innovation in the capital market.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
