10 MNC to enter bourse; Dhaka Stock Brookers laud BSEC

Securities and exchange commission

The Dhaka Stock Exchange Brokers’ Association of Bangladesh (DBA) has appreciated Bangladesh Securities and Exchange Commission’s (BSEC’s) decision to directly list 10 multinational companies, including Unilever and Nestlé, in the country’s capital market.

DBA President Saiful Islam said the move has instilled confidence among investors and market intermediaries regarding the inclusion of large domestic and foreign companies in the market.

“Effective implementation of the commission’s initiative to list domestic and foreign companies in the stock market will increase product availability, meet investor demand, and strengthen our capital market into a more robust and prosperous platform,” Saiful said.

For a long time, he said, no high-quality companies have entered the bourse, which has limited meaningful participation from domestic and foreign investors, leaving the market less stable and sustainable.

“In the greater interest of the capital market, we have actively engaged with relevant government ministries, BSEC, DSE, and other stakeholders through correspondence, meetings, seminars and dialogue sessions to advocate for listing quality domestic and foreign companies. The benefits of these efforts are now coming to fruition,” Saiful added.

The interim government has taken steps to directly list 10 multinational companies, including Unilever, Novartis, Syngenta, and Nestlé Bangladesh, on the stock market.

Last month the Ministry of Finance sent letters to the Ministry of Industries, Ministry of Commerce, and the Power and Energy Division to take the necessary measures for implementation.

Sector analysts said the entry of multinational companies into the capital market is expected to have a positive impact on investment and the economy.

It could also reduce government reliance on debt while improving overall market valuation, they said. - UNB