B Mirror Report: The Bangladesh Securities and Exchange Commission (BSEC) has indicated a stricter approach toward issue manager companies and merchant banks to ensure long-term and sustainable development of the capital market.

BSEC Chairman Khondoker Rashed Maqsood warned licensed entities that have failed to bring new companies or initial public offerings (IPOs) within the stipulated timeframe. He delivered the warning at a meeting held on Wednesday (April 15) at the BSEC Multipurpose Hall in Agargaon, attended by senior commission officials and representatives from all merchant banks.

The chairman said the commission is actively working to ensure sustainable market growth and full protection of investors. He emphasized that, according to licensing conditions, issue managers must bring at least one new company or IPO application every two years.

He also revealed that the commission is set to introduce new directives for public interest companies and sought cooperation from all stakeholders in this regard.

The meeting included detailed discussions on key capital market issues such as listing new issuer companies, bringing fundamentally strong firms to the market, ensuring good governance in public interest companies, addressing listing barriers and their solutions, reviewing pipeline issues of issue managers, maintaining provisions for negative equity and unrealized losses, promoting bond-based financing, and establishing the capital market as a primary source of long-term financing.

Participating issue managers presented updates on their pipeline issues and expressed optimism about bringing new companies and IPOs to the market soon.

Representatives from leading merchant banks and investment institutions, including AAA Finance & Investment, AB Investment, BRAC EPL Investment, IDLC Investments, and LankaBangla Investments, were present at the meeting. BSEC Commissioners Mohammad Mohsin Chowdhury, Ali Akbar, Farzana Lalarukh, and Md. Saifuddin, CFA, along with other senior officials, also attended.