New commissions leadership increased capital markets dynamism: CSE Chairman

Sunbd Desk || Published: 2021-06-10 10:27:10 || Updated: 2021-06-10 10:27:10

Asif Ibrahim, chairman of the Chittagong Stock Exchange (CSE), said the new commission, headed by Professor Shibli Rubaiyat-ul-Islam, was working to develop the capital market with their talents and wisdom. The effect of which can be seen in the capital market. Under their leadership, market dynamism has been created. Which has played a role in increasing confidence among investors and other stakeholders.

He was speaking at the inauguration of Nialco Alloy’s transaction as the first company on the country’s capital market SME board on Thursday (June 10th). The Board of Directors of CSE, the Board of Nialco Alloys and the Managing Director of MTB Capital, Issue Manager were present on the occasion.

Asif Ibrahim hopes that the new commission will further ensure the growth of the capital market in the future. At the same time, they will be able to build an improved capital market with their skills, he added.

Meanwhile, the government is working to take the country’s SME sector forward, said the CSEC chairman. He said the government is giving special importance to the development of this sector. And as a company in that SME sector, Nialco Alloy started trading on CSE and for the first time in the whole country on the SME board. CSE witnessed this.

At the 770th meeting of the BSEC on April 15, BSEC approved Nialco Alloy Limited as the first company to raise money through Qualified Investor Offer by Small Capital Companies (QIO). The company raised Rs 7 crore 50 lakhs from the capital market through QIO. According to the 2017 rules, the company withdraws the money by issuing 75 lakh shares to eligible investors at the rate of Tk 10 each.

To this end, the acceptance of applications in the company’s QIO started on May 16 and lasted till May 20. With the money raised, the company will spend on land development, purchase of equipment and IPO costs.

MTB Capital Limited is in charge of issue management of the company.

Sunbd/NJ

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