POBNEWS24, Dhaka Apr 27, 2025 : Initial public offering or IPO is closed in the country’s capital markets. Especially in the last 8 months, no company has been given IPO. In this situation, there has been a crisis of intense confidence in the Bangladesh Securities and Exchange Commission (BSEC). In many forecast, analysts has predicted 80,000 crores of capital looted from share market in last 8 months.
Concerned that the incompetence of the commission led by Rashed Maqsood was revealed from the beginning. No one in the stock market has confidence in commission. Criticizing investors across the country, the current commission is ineligible, they do not understand the stock market. They are not in a position to realize the importance of IPO in this market. Their condition is also clear among the issue managers and entrepreneurs. So they too have lost interest in the IPO in the stock market.
It is not, Only those who are in the market are unstable towards Rashed Maqsood. The people of the Commission themselves do not consider them worthy.
At a press conference of the Welfare Association of the BSEC, the current chairman Khandaker Rashed Maksud led by the commission has not shown interest in the fundamental company in the last eight months due to incompetence in their confidence. The stock market is becoming dull. The current Commission is more interested in cancellation without approved any issue.
On condition of anonymity, a member of the commission told Media that everyone has evidence of Rashed Maqsood’s Commission who is happy to cancel the IPO. At the time of the responsibility of the Commission under his leadership, 17 IPO files were submitted. Each one of which he has canceled. Without any logical reason, the cancellation has also occurred in many cases. The Commission has also canceled the IPO of the Life Insurance Company, seeking to come to the stock market due to legal obligations.
At a press conference of the DSE Brokers Association recently, the leaders of the organization said that BSEC has no IPO pending in the last eight months. There is no such thing in the history of the world. The supply of goods in this market is very bad.
Analyzing, no IPO came to the stock market after 5th August last year. Earlier in the last 2024, 4 companies left the IPO and raised money from the stock market. In the previous year , 4 companies came to the IPO. The present condition is the lowest IPO in last 2 years.
Analysts and markets are referring to the situation as the stock market without the IPO. They are saying, that good company IPO must be brought to the stock market, there is no other alternative. But due to new government policy problems, good companies are not interested in listed on the stock market. In the meantime, Rashed led commission has added another dimension of the unpleasant entrepreneurs on the commission to the IPO .
Because of this, the stock market is now completely without IPO. This problem needs to be solved quickly. If necessary, good company enrollment should be arranged with incentive.
Analyzing the statistics, a record amount of money was withdrawn from the stock market for two consecutive years under the commission led by the former chairman of the Bangladesh Securities and Exchange Commission (BSEC). However, the number of IPOs decreased drastically in 2024.
After Rashed Maqsood taking the responsibility of (BSEC) , IPO has come down to zero. The four companies sold in the IPO in 2024 include NRB Bank, Best Holding, Asiatic Laboratories and Techno Drugs. Of these four companies, NRB Bank sells shares in the IPO in a steady way. The remaining three companies have come to the stock market in the book building system.
NRB Bank has left the shares in the IPO and withdrawn Tk 100 crores. From Rest Of the remaining three companies, the best holding has withdrawn Tk 350 crores, the Asiatic Laboratories 95 crores TK and Techno Drugs 100 crores TK. That means four companies have left the IPO and withdrawn a total of Tk 645 crores Taka.
Earlier in 2023, Midland Bank, Trust Islamic Life Insurance, Shikdar Insurance and Captech Grameen Bank Growth Fund came to the IPO. That is, in 2023, three companies and a mutual fund came to the IPO. From this, Midland Bank withdrawn 70 crores TK, Trust Islamic Life Insurance 16 crores TK, Shikdar Insurance 16 crores TK and Captech Grameen Bank Grameen Bank Growth Fund 100 crores TK in 2024-2025 FY. That is, the amount of money withdrawn from the four companies was Tk 202 crores TK in 2024-2025 FY.
