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Trading on the alternative trading board (ATB) of Dhaka bourse is likely to begin at the end of this month as all preparations to this end have already been completed.
Initially, the trading will commence with the listing of four securities, according to Dhaka Stock Exchange (DSE) officials.
“The companies are working to dematerialise (demat) their shares. We hope the trading of the securities on ATB will begin within October 20-25,” said DSE managing director (current charge) M Shaifur Rahman Mazumdar.
He said the ATB rules are now in the process of printing and the DSE is accelerating other jobs to start the trading in the board.
“We hope the trading will start through the listing of three companies and one debt securities,” said the DSE official.
The Bangladesh Securities and Exchange Commission (BSEC) previously approved the rules for the ATB to facilitate the growth of non-listed companies, any kind of bonds, debenture, sukuk, open-end mutual funds and alternative investment funds.
The regulator paved the way for the ATB in order to diversify the country’s stock market along with enhancing the exchange’s revenue income.
As per the rules, the companies will not raise funds through the ATB.
“Their shares will be traded on the ATB. The brokerage firms will help transfer the shares which will be listed on the ATB,” said the DSE managing director Mr. Rahman.
Presently, there are two boards on the premier bourse. They are main board and SME board.
(FE)
