Every applicant to get IPO stocks from 1 April
The decision was made at a meeting of the Bangladesh Securities and Exchange Commission on Thursday
Every general investor who has applied for initial public offering (IPO) will get stocks from 1 April 2021.
The decision was made at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) on Thursday.
The commission said the allocation of proportional (pro-rata) rates to general investors instead of existing lottery system by complying two conditions.
The conditions are: general investors must invest at least Tk20,000 on a listed company at the market price in the secondary market of the stock exchanges and they must apply at Tk10,000 or its multiple for an IPO.
The securities regulator has also decided that in case of the approval of an IPO in the book-building method, bidding and publication of prospectus will be given simultaneously instead of existing dual consent letter. This decision will be effective from 1 April 2021
