The Securities and Exchange Commission on Tuesday formed a five-member committee to review offered price of shares of companies that would offload shares through initial public offering by fixed price method.
The committee include representatives of Institute of Chartered Accountants of Bangladesh, Institute of Cost and Accounting Management Bangladesh, finance department of Dhaka University and chief executive officers of the Dhaka and the Chittagong Stock Exchanges.
'The commission decided to form the committee to review IPO price of shares to facilitate the offloading of more shares in the capital market in a better way,' said Saifur Rahman, executive director of the SEC, after a meeting of the commission.
The commission also decided to form two other new committees, one for formulating a guideline to address the errors made by the authorised representatives of the brokerage houses, and another for assisting the research and analysis services of the commission.
In the meeting the commission also decided to send the draft amendments to the book building method to the stakeholders for their opinion.
Source : New Age
