Staff Reporter :
In a strategic move to revitalise the capital market and enhance investor confidence, the Bangladesh Securities and Exchange Commission (BSEC) has identified 15 prominent state-owned and multinational companies for potential stock market listing.
The targeted firms, where the government holds equity stakes, include high-profile names such as Unilever Bangladesh, Karnaphuli Fertilizer, Synovia Pharma PLC (formerly Sanofi Bangladesh), Novartis Bangladesh, Syngenta Bangladesh, Nestlé Bangladesh, Pashchimanchal Gas Company, North-West Power Generation, B-R Powergen, Sylhet Gas Fields, Barapukuria Coal Mining Company, Jalalabad Gas Transmission and Distribution, Karnaphuli Gas Distribution, Sadharan Bima Corporation, and Jiban Bima Corporation, according to a BSEC statement issued recently.
The proposed listings aim to improve corporate governance, increase transparency, and boost accountability within these firms, said Anisuzzaman Chowdhury, Special Assistant to Chief Adviser Muhammad Yunus, while chairing a high-level meeting at the Ministry of Finance last week.
Chowdhury emphasized that listing these companies would help the government better assess the value of its holdings and provide the capital market with access to fundamentally strong, profitable entities.
He urged relevant ministries and agencies to immediately act on a directive issued by the Chief Adviser in May to facilitate the process.
Given that most of these companies have strong financial reserves and do not require fresh capital infusion, they will be brought to market through direct listing, a mechanism allowing companies to offer existing shares without raising new equity.
This model is designed to expedite the listing process while ensuring investor access to quality stocks.
BSEC spokesperson Abul Kalam said that making shares of state-owned and multinational firms available through direct listing would improve market depth and offer investors a broader range of stable, dividend-paying options.
The meeting was attended by key government and regulatory officials, including Industries Secretary M Obaidur Rahman, Financial Institutions Division Secretary Nazma Mobarek, and BSEC Chairman Khondoker Rashed Maqsood.
At present, there are 397 companies listed on the country’s stock exchanges. The inclusion of these 15 blue-chip firms is expected to significantly enhance market liquidity, investor participation, and overall trust in the equity market.
