Ordinary investors have raised the demand to remove the discrimination of the market SME platform of the small capital companies of the country’s capital market. In view of this demand, they have written to the regulatory body Bangladesh Securities and Exchange Commission (BSEC).
The commission received a letter in this regard sent to the BSEC chairman on Tuesday (August 27).
That said, we SME market investors invest in different stocks at different times. We’ve been talking to a lot of investors we know, and we’re noticing some disparities regarding SME platforms. I present to you some claims about the share of SME platform in removing this disparity.
The first of the written demands of the investors is to make the circuit breaker of the SME market the same as the circuit breaker of the main market. If not, they claim, SME platform shares are being discriminated against.
Second, all types of investors should be given the opportunity to buy shares in the SME market. The obligation to not buy shares of companies listed in the SME market should be waived if not 30 lakh rupees or not qualified at the end of the quarter.
Besides, they demanded that those companies which have not distributed the dividend even after the specified time should be brought under severe punishment. Along with that, companies under the management of which have failed to comply with the Securities Exchange Commission’s compliance, the chairman, managing director and company secretary of those companies should be changed and arrangements should be made to appoint qualified people.
Among their other demands are to appoint independent directors from among the common shareholders, to allow companies whose paid-up capital equals the paid-up capital of companies in the main market to be traded directly in the main market, to automatically allow companies that maintain all forms of compliance with the Securities and Exchange Commission. To arrange for trading in the main market, those SME market shares which have paid 10 percent cash dividend for three consecutive years should be arranged for automatic trading in the main market, if the SME market shares are covered under loans, brokerage houses and merchant banks in SME shares like main market shares and Loans should be provided, any shares from OTC market should be allowed to trade in the main market if they maintain all compliances after coming to the SME market, all shares of the SME platform should be reported at the end of every quarter or every 6 months as in the main market. It has to be submitted that companies in the SME market having low paid-up capital if they consider increasing the paid-up capital for the sake of business should be allowed to do so subject to conditions and any shares made up or increased by sale of shares through private placement can be listed in the SME market. no
Considering the above demands, the investors requested the Chairman of BSEC to take necessary measures to remove the discrimination.
Seven investors have signed the letter along with their names and BO account numbers on behalf of all general investors. In addition to BSEC, the letter has been sent to the Managing Director (MD) of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). The seven investors who signed the letter are – Mohammad Harunur Rashid, Md. Tasminul Haque, Md. Main Uddin, Md. Shariful Islam, Md. Raju Hossain, Mosaddek Hossain and Md. Shaheen ur Rashid.
