A special committee on the stock market stimulus package on Monday
submitted to the Securities and Exchange Commission a list of the
investors who were affected by the market crash last year.
Committee sources said the investors named in the list would be able to apply for initial public offerings under the quota facility announced in the stock market stimulus package in March this year.
‘The list will deal with the investors’ participation only in the IPOs,’ a special committee member told New Age on Monday.
He said the SEC would examine the list and set a procedure for the investors who would apply for an IPO under the quota. ‘But, if an investor applies under the special quota, he will not be able to apply under general IPO process.’
Finance minister, AMA Muhith, on March 4 announced a special package including a 20-per cent quota in IPOs for the next two years for small-scale investors who suffered because of the 2011 stock plunge. Under the package, 50 per cent of interest on the past year’s margin loans was also waived.
Following a free-fall in share prices on the stock market, the prime minister, Sheikh Hasina, in November last year asked the SEC to work out a package to minimise the losses the investors incurred. Later the commission announced a stock market stimulus package containing short-, mid- and long-term measures.
The commission also formed a six-member body to recommend a special scheme in two months for small-scale investors who had suffered heavy losses in the market depression that continued for 11 months.
The committee, headed by ICB managing director Mohammad Fayekuzzaman, put forward a proposal for compensation in late January.
Committee sources said the investors named in the list would be able to apply for initial public offerings under the quota facility announced in the stock market stimulus package in March this year.
‘The list will deal with the investors’ participation only in the IPOs,’ a special committee member told New Age on Monday.
He said the SEC would examine the list and set a procedure for the investors who would apply for an IPO under the quota. ‘But, if an investor applies under the special quota, he will not be able to apply under general IPO process.’
Finance minister, AMA Muhith, on March 4 announced a special package including a 20-per cent quota in IPOs for the next two years for small-scale investors who suffered because of the 2011 stock plunge. Under the package, 50 per cent of interest on the past year’s margin loans was also waived.
Following a free-fall in share prices on the stock market, the prime minister, Sheikh Hasina, in November last year asked the SEC to work out a package to minimise the losses the investors incurred. Later the commission announced a stock market stimulus package containing short-, mid- and long-term measures.
The commission also formed a six-member body to recommend a special scheme in two months for small-scale investors who had suffered heavy losses in the market depression that continued for 11 months.
The committee, headed by ICB managing director Mohammad Fayekuzzaman, put forward a proposal for compensation in late January.