Many big cos prepare to come to capital market: says BSEC chief

| Update:
January 14, 2022 08:40:07

Entrepreneurs are showing their interest in raising funds in the capital market of the country to develop the growth of their business.

Many large profitable companies are gearing up to come into the market given the favorable environment, said Prof. Shibli Rubaiyat-ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC).

“Many of these companies will come to market over the next couple of years,” Shilbi said during a courtesy visit to newly elected leaders of the Capital Market Journalists Forum (CMF) on Tuesday.

An eleven-member delegation, led by newly elected CMJF President Ziaur Rahman, met him at the BSEC building in the capital’s Agargaon district.

BSEC Commissioners Sheikh Shamsuddin Ahmed and Md. Abdul Halim, newly elected CMJF General Secretary Abu Ali, former President Hasan Imam Rubel, former General Secretary Monir Hossain were present, among others.

The chairman of BSEC said that they are working to bring multinational companies as well as large industrial groups in the country to the capital market. Progress will be visible in the near future.

He said these companies can be brought into the market by force or by directive if necessary. But BSEC does not want to do this.

“We focus on creating a favorable business environment. And when that environment looks attractive, companies won’t need guidelines to bring,” he said.

He added that the current commission has begun to reap the benefits of law reform and market development initiatives. Any initiative takes a bit of time to get results, he said.

The BSEC Chairman said roadshows organized by BSEC to increase foreign investment in the country are also receiving a response. Already many companies and funds have contacted stakeholders.

Mr Shibli said he has information that many major companies in the country are interested in being listed by the international magazine Forbes.

“This is only possible if the company is listed on the capital market thanks to its valuation,” he said.

He called on CMJF leaders to bring the quality of CMJF member reporting to the international level through training by bringing in global experts.

BSEC Commissioner Prof. Sheikh Shamsuddin Ahmed said capital market reporters have a good knowledge of their reporting.

“You have to organize regular training to do better. If the members of the CMJF express their request, we will organize the training accordingly,” he assured.

Speaking on the occasion, CMJF Chairman Ziaur Rahman said investor confidence in the secondary market has returned with various initiatives taken by the government and the BSEC.

“Now we have to focus on the primary market. Because, if we focus more on the primary market, the capital market’s contribution to the country’s overall economy will increase to a large extent,” he said.

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