BM Desk:
Managing Director of Dhaka Stock Exchange (DSE) ATM Tarikuzzaman said that stock exchanges should have more of a role in examining IPOs. Exchanges used to have a good role, but now they play much less.
The new DSE MD said this in response to a question at CMJF Talk, organized by the Capital Market Journalists Forum (CMJF). Ziaur Rahman, president of the CMJF, and General Secretary of the organization Abu Ali also gave speeches.
ATM Tarikuzzaman mentioned that currently, BSEC approves all types of public offers, including IPOs. Different countries around the world have different laws. Somewhere, the stock exchange gives the approval, and somewhere else, the regulator gives the approval.
In response to another question, Tarikuzzaman said that the floor price is not a permanent solution to improve the confidence of the capital market.
He said it is a direct intervention in determining the share price. It is not right for regulators or stock exchanges to fix prices. It is nowhere in the world. The place to discover stock exchange prices
The former executive director of capital market regulator Bangladesh Securities and Exchange Commission (BSEC) ATM Tarikuzzaman took charge as Managing Director of DSE in September this year. In the event, he highlighted various aspects of the current status of DSE and various plans for its development.
In the question and answer session, various issues like stopping manipulation of the capital market, demutualization, strategic investment and technical assistance, bringing good companies to the capital market, investor protection, and establishing good governance in listed companies came up.
