Finance Minister AHM Mustafa Kamal said, “We are going to introduce seven more government companies to be listed in the capital market soon to revitalise the capital market.”
"We need more institutional investments to build strong capital market,” he added.
The Finance Minister came up with the statement while exchanging views with reporters at the finance minister's office in Sher-e-Bangla in the city on Sunday.
AHM Mustafa Kamal said Titas Gas Transmission and Distribution Company Limited (TGTDCL), Power Grid Company of Bangladesh, North West Power Generation Company, Electricity Generation Company of Bangladesh Limited (EGCB), Ashuganj Power Station Company Limited, B-R Powergen Limited (BRPL) and Gas Transmission Company Limited will be listed into the stock market soon to build a strong capital market.
In reply to a question as to when would these companies come to the stock market, he said,
“It will take some time for that.” However, we need institutional investment to strengthen our capital markets. We need to build strong capital market like those in the developed countries.”
“In the next two months, concerned people will give us an assessment and report on seven companies. We want to bring the companies into the stock market soon, so we want to finish the assessment work within two months.
“Primarily, 10 percent to 25 percent share of these companies will bring in the market,” he added.
Earlier, Prime Minister gave six-point directives including listing more multinational companies, profitable state-owned enterprises (SoEs) for invigorating the stock market by bringing back investors’ confidence while attending a meeting with Khairul Hossain, the chairman of Bangladesh Securities and Exchange Commission, and government policymakers.
They discussed regarding taking many measures including short- and long-term ones to build strong capital market.
However, the stock market has been witnessing a downward trend in the last two years. As a result, investors are gradually losing confidence to inject new funds into the market.
