DSE forms body to lure good cos into stock market

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Refayet Ullah Mirdha
The Dhaka Stock Exchange (DSE) Tuesday formed a high-powered committee to attract good companies into the stock market to ensure adequate supply of shares.
The DSE at a board meeting formed the "Capital Market Promotion Committee", first of its kind, aiming to recommend measures to attract good companies.
The total market capitalisation of the DSE has already crossed $ 10 billion-mark in testimony to a growing stock market, but short supply of quality shares pose a big challenge to the sustainability of the present growth.
The total market capitalisation of DSE was below $ 5.0 billion level in January this year.
The meeting sources said apart from the DSE directors, representatives of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), International Chamber of Commerce - Bangladesh (ICC-B), Dhaka Chamber of Commerce and Industry (DCCI), Institute of Chartered Accountants of Bangladesh (ICAB) and Brigadier General Ziaur Rahman, a nominated director of DSE will be the members of the newly-formed committee.
Talking to the FE chief executive officer (CEO) of the DSE Salahuddin Ahmed Khan said the committee will sincerely work to lure profitable public and private companies into the stock market.
"Currently, there is a huge fund in the stock market as the number of investors has increased significantly, but the main problem lies with the supply of good shares. The committee will encourage both government and private sector entrepreneurs for listing with the stock exchange," said a market operator.