In addition to the main market, small market capitalization in the capital market is not suitable for investors (except for general), a separate market has been created in two years. In February 2016, at least five crore rupees were made to make a separate market with the capital market, but the market is not yet operational.
Two years ago in 1992, Smokeless Company was listed and the transaction of the stock was formulated to create a separate market. But if there is a need to make changes in certain sections of the law, the new law has been separated from the last section, which has been finalized in the commission's meeting on Tuesday. Stock exchange executives expects a different trading platform this year.
According to sources, the capital market regulator has taken the initiative to list small investments in the stock market by making them bigger and stronger in market capitalization. For investors, the decision to start this market, such as the Smallcaps Board, has many resources and investment matters, it excludes the general investors. Considering the report of a committee for the formation of separate boards, the structure for the Smallcaps Board was announced on 2 February 2016. That year, on October 27, 'Quarterly Investor Offer -2013' for Small Capital Companies was announced. The Act was finalized.
The sources of the exchange said that after the funeral of this law, the issue of technical issues related to the stock deal was raised. Then the stock exchange reported the commission to take action to improve those issues. It needs an improvement in some sections. The law is not revised again. In this case, the earlier will be canceled.
On June 28, & # 39; Qualified Investor Offers for Small Capital Companies & # 39; No draft has been published on the Bangladesh Securities and Exchange Commission (BSE) website. After accepting comments by June 28th, the commission has enacted the law after addition and deletion.
A notification issued by the commission's spokesman and executive director Saifur Rahman said that Bangladesh Securities and Exchange Commission (the qualified investor's offer by small capital companies), in 2018, was final approval for some changes and changes. After the publication of the draft, the public proposal was published in the national daily. In the notification, the final approval by public opinion will be published in the gazette form very soon.
Relatives say that the development of a separate platform outside of the main market is time consuming, as well as the technical or technical side and the need for law development. The rise in the capital market, the new platform seems to be stable compared to the existing market. Because people with institutional and high resources can deal here, who have the best ideas and knowledge about the capital market. There are also good ideas about investment and risk.
Under the new law, commercial banks and portfolio managers, asset management companies, mutual funds and CIS, stock dealers, market makers, banks, financial institutions, insurance, alternative investment fund managers, alternative investment funds, approved pension and provident funds, commission organizations and Sheikh, who has high-income Bangladeshi and foreign companies, has invested in the stock market.
According to sources, after the announcement of a commission or framework in the form of Smallcaps Board in 2016, the DSE and the Cheggton Stock Exchange (CSI) are part of the 'small capital platform' for a short-term capital market listing and sharing of shares. Pointed out the composition of. After this order both the stock exchanges started working. Share exchange has already completed all the preparations for a different platform; But can not go to work because there is no law.
KM Mazdoor Rahman, Managing Director of Dhaka Stock Exchange Limited (DSE), told Clare Kanthon: "All the works of small market have been completed to create a separate platform outside the main market." This year will be launched on the new platform.
According to the law of small capital company, like the original market, the capital can be withdrawn in the fixed price and book building process. Qualified Investor Offers (KIO) can withdraw capital of a company of five crores at least five (50 million) rupees. After the withdrawal of capital, the capital should be below Rs 30 crore.
According to the commission's decision, CVB will create a separate BO account to identify qualified investors. This market will not be open to the general investors. Market transactions will be conducted by existing share brokers. No company can be listed in this market by direct listing and shareholders will have a lock-in for a specific time period. To maintain liquidity in the market, the company's company will have to appoint a market maker for at least three years. The shares of market companies will be dematerialized in the form, ie shares can not be printed. The shares will be sold on the electronic trading platform and the settlement of the transaction will be like the main market of the stock market. Compliance liability will be less than current current IPO.