Guideline on book building yet to be finalised
Tuesday, 22 March 2011
FE Report
The stakeholders of the stock market will sit for further discussion to finalise the revised guideline on book building method, officials said. A spokesman of the Securities and Exchange Commission (SEC) said this Monday immediately after a meeting held on the revised guideline of the IPO method. The SEC official said, the regulator made a recommendation on revised guideline and the stakeholders elaborately discussed the issue at Monday's meeting. "Both the stock exchanges, Bangladesh Association of Publicly Listed Companies (BAPLC) and Bangladesh Merchant Bankers' Association will sit again with the securities regulator after holding their separatemeetings," the SEC official said. Salman F Rahman, the president of BAPLC, told the reporters that the stakeholders would sit with the SEC on March 28 to finalise the revised guideline. The SEC has proposed for a review committee in its recommendation to scrutinise and verify the audited financial statements submitted in connection with an IPO (initial public offering). A stakeholder who attended the meeting said, during the discussion on the point of review committee, Mr Salman urged the SEC to take action against the specific companies that submit 'doctored' balance sheets.
The stakeholders of the stock market will sit for further discussion to finalise the revised guideline on book building method, officials said. A spokesman of the Securities and Exchange Commission (SEC) said this Monday immediately after a meeting held on the revised guideline of the IPO method. The SEC official said, the regulator made a recommendation on revised guideline and the stakeholders elaborately discussed the issue at Monday's meeting. "Both the stock exchanges, Bangladesh Association of Publicly Listed Companies (BAPLC) and Bangladesh Merchant Bankers' Association will sit again with the securities regulator after holding their separatemeetings," the SEC official said. Salman F Rahman, the president of BAPLC, told the reporters that the stakeholders would sit with the SEC on March 28 to finalise the revised guideline. The SEC has proposed for a review committee in its recommendation to scrutinise and verify the audited financial statements submitted in connection with an IPO (initial public offering). A stakeholder who attended the meeting said, during the discussion on the point of review committee, Mr Salman urged the SEC to take action against the specific companies that submit 'doctored' balance sheets.