Professional Documents
Culture Documents
Process of Listing
Process of Listing
Decision to go Public:
Appoint Issue Manager(s) from Bangladesh Securities and Exchange Commission (BSEC)
approved list
Decide method of public offer with assistance from Issue Manager's Fixed Price or Book Building
or Direct Listing
Initiate process for credit rating - Mandatory for Bank, Insurance, NBFI and any issue with offer
price at premium
Assist Issue Manager in preparing Draft Prospectus in accordance with Bangladesh Securities
and Exchange Commission (Public Issue) Rules, 2015
Appoint Underwriters
o Collect comments and observations from EIs who participated in the road show in
accordance with rules of the Bangladesh Securities and Exchange Commission (Public
Issue) Rules, 2015
Assist Issue Manager in updating draft prospectus to comply with or fulfill deficiencies identified
by BSEC/Exchange.
Post the draft Prospectus/Red-herring Prospectus on Company's and Issue Manager's Website.
Apply to Exchanges for holding bidding with BSEC consent for bidding
Sign agreement to share Book Building Software for bidding and payment of fees thereof
On completion of bidding collect allotment list for EI and cut-off price from the Exchange
Submit the details of bidding along with draft prospectus to BSEC for approval.
Approval of IPO:
Print abridged version of the approved and vetted prospectus in widely circulated two Bengali
and two English News Papers
Post the vetted Prospectus on Website of Issuer, Issue Manager, Commission, and Exchange.
Apply for Listing with Exchanges in accordance with BSEC (Public Issue) Rules, 2015 and the
Listing Regulations of the Exchanges.
After subscription period, submit subscription status to BSEC and the Exchanges where the
issuer wishes to get listed.
Distribute securities on pro-rata basis in case of over subscription under category of eligible
investors.
If issue was not subscribed by minimum required quantity refund the subscribers.
Credit Share/Units:
If listing is approved by the Exchange, issuer shall apply to CDBL for crediting tradable
shares/units as per allotment.
Once shares/units are credited and confirmed by CDBL, commencement date for trading is
announced by the respective Exchange.
General stages and relevant processes of listing by offloading of shares of companies through Direct
Listing Process
Get relevant approval from concerned ministry or any other regulatory body, if any
Submit Information document to the respective Exchanges and BSEC and apply to the Exchanges
for offloading of shares through direct listing
Update Information document and get the same vetted by the respective exchanges
Publish the Information Document in two in at least two widely circulated national dailies (one
in Bangla and the other in English).
Post the full information document or public offer document on the web site of the Commission,
the Exchange and the Issuer.
Trading shall commence at least seven days after publication of information document
Make shares to be offloaded available to designated stock brokers and provide irrevocable sale
orders for the total quantity made available.
The existing shareholders shall offer for sell at least 25 (twenty five) percent of the
shareholdings in the company within 30 (thirty) trading days from the date of commencing the
normal trading.
The sponsors or directors shall be restricted from buying shares for 1 (one) year from the date of
direct listing.
Report broker wise offloading status to the exchanges and BSEC on daily basis until completion
of sale of the targeted 25 (twenty five) percent shareholdings.