FM Hints At a Cut in IPO-Capital Ratio
Wednesday, 23 December 2009

Finance minister AMA Muhith has hinted at lowering the proportion of paid-up capital in offloading of a company share to prop up the stock market.

On November 5, the finance ministry decided that from now on a company will have to go for launching initial public offering (IPO) with minimum of 40 percent of its paid up capital.

The decision drew criticism from the bourse authorities saying it would hinder the market growth.

"We will reconsider the decision in the interest of the market," AMA Muhith told reporters Wednesday at the ministry after a meeting with a delegation of the Chittagong Stock Exchange headed by its president Fakhruddin Ali Ahmed.

Source: bdnews24.com

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