Companies from now on will not be allowed to go public keeping their AGM (annual general meeting) in pending, officials said.
The Bangladesh Securities and Exchange Commission (BSEC) has taken the decision following a proposal made by Dhaka Stock Exchange (DSE).
“The commission has accepted the DSE’s proposal in principle. Now the regulator will implement the proposal of giving approval to the IPO proposals of the companies whose AGMs are not in pending,” said a senior officer of the securities regulator.
Before putting forward the proposal to the regulator, the board of the premier bourse took the decision of giving listing only to the companies which hold AGM regularly.
The DSE’s proposal came following the regulatory approval to United Power Generation & Distribution Company Limited (UPGD) which kept one AGM in pending, said a DSE official.
A company is listed with the stock exchange under ‘N’ category. The companies which have failed to hold AGM is shifted to ‘Z’ category.
Md. Shakil Rizvi, a DSE director, said it’s not logical to allow a company under ‘N’ category keeping its AGM in pending.
“That’s why the DSE made the proposal of allowing companies considering the record of holding AGM,” said Mr. Rizvi, also a former DSE president.
mufazzal.fe@gmail.com
Cos barred to go public with pending AGMs
FE Report | Published: May 06, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like