Many big cos getting ready to come to capital market: says BSEC chief

The entrepreneurs are showing interest to raise funds from the country’s capital market for expanding their business growth.

Many big and profitable companies are preparing to come to the market, considering the favorable environment, said Prof. Shibli Rubaiyat-ul-Islam, chairman of Bangladesh Securities and Exchange Commission (BSEC).

“Several of these companies will come to market in the next two years,” said Mr Shilbi during a courtesy call on the newly elected leaders of the Capital Market Journalists Forum (CMF) on Tuesday.

An eleven-member delegation, led by the newly elected president of CMJF Ziaur Rahman, met him at the BSEC building in the Agargaon area in the capital.

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

The BSEC chairman said they are working to bring multinational companies and also the country’s big industrial groups to the capital market. Progress will be visible in near future.

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

“We are focusing on creating a favorable environment for companies. And when this environment seems attractive, companies will no need any directives to bring,” he said.

He further said the present commission has started reaping the benefits of the initiatives taken for the reform of law and development of the market. Any initiative takes a little time to get results, he said.

The BSEC chairman said the roadshows organised by the BSEC to increase foreign investment in the country are also getting response. Already many companies and funds have contacted the stakeholders.

Mr Shibli said they have information that many big companies of the country have become interested in appearing in the list of the international magazine Forbes.

“This is possible only if the company is listed on the capital market through its valuation,” he mentioned.

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

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

“You need to organise regular training to do better. If the CMJF members express their demand, we will arrange training accordingly,” he assured.

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

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

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