Tamim, SEC chief warn against any 'unbridled growth' of stock market
FE Report | Friday, 27 June 2008
Trading of Titas Gas will begin on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) July 2 under Direct Listing Regulations.
Titas Gas will be the largest company in the stock market with offloading the highest number of shares worth Tk 2.14 billion (face value Tk 100 each).
Dhaka Stock Exchange (DSE) directors disclosed this Thursday in a projection meeting on Titas Gas Transmission and Distribution Co Ltd.
Addressing the ceremony, Professor M Tamim, Special Assistant to Chief Adviser said more state-owned companies under power and energy ministry will offload shares in the stock market to meet the growing demand of investors.
"It's red-letter day for the stock market as companies like Titas has been included in the stock market after several months' efforts," Tamim said.
He said more manufacturing companies should go public so that country's industrialization gets momentum through the stock market.
Mr Tamim also warned against any kind of 'unbridled growth' in the stock market, which he said is a barometer of developed country's economy.
He said the accountability of Titas Gas, which accounts 73 per cent of the country's total gas requirement will be ensured through trading of the company shares in the stock market.
Chairman of Securities and Exchange Commission (SEC) Faruq Ahmad Siddiqui, secretary of power, energy and mineral resources Mohammad Mohsin, chairman of Petrobangla Jalal Ahmed, DSE president Abdul Haque and senior vice president Saiful Islam were present, among others in the programme held in a city hotel.
Chief executive officer (CEO) of DSE Salahuddin Ahmed Khan conducted the programme.
The SEC chairman Faruq Ahmad Siddiqui said investors should remain cautious as some of the issues have already become over-priced due to mismatch between demand and supply.
"We must remember the 1996
Titas Gas will be the largest company in the stock market with offloading the highest number of shares worth Tk 2.14 billion (face value Tk 100 each).
Dhaka Stock Exchange (DSE) directors disclosed this Thursday in a projection meeting on Titas Gas Transmission and Distribution Co Ltd.
Addressing the ceremony, Professor M Tamim, Special Assistant to Chief Adviser said more state-owned companies under power and energy ministry will offload shares in the stock market to meet the growing demand of investors.
"It's red-letter day for the stock market as companies like Titas has been included in the stock market after several months' efforts," Tamim said.
He said more manufacturing companies should go public so that country's industrialization gets momentum through the stock market.
Mr Tamim also warned against any kind of 'unbridled growth' in the stock market, which he said is a barometer of developed country's economy.
He said the accountability of Titas Gas, which accounts 73 per cent of the country's total gas requirement will be ensured through trading of the company shares in the stock market.
Chairman of Securities and Exchange Commission (SEC) Faruq Ahmad Siddiqui, secretary of power, energy and mineral resources Mohammad Mohsin, chairman of Petrobangla Jalal Ahmed, DSE president Abdul Haque and senior vice president Saiful Islam were present, among others in the programme held in a city hotel.
Chief executive officer (CEO) of DSE Salahuddin Ahmed Khan conducted the programme.
The SEC chairman Faruq Ahmad Siddiqui said investors should remain cautious as some of the issues have already become over-priced due to mismatch between demand and supply.
"We must remember the 1996