News Details

Committee to submit list to SEC by Apr 30


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The committee, formed to help affected investors during the 2010-11 stock market debacle, will submit the final list of such investors by April 30, officials said.

Md. Fayekuzzaman, managing director of the Investment Corporation of Bangladesh (ICB) and the committee chief, said this Tuesday after holding a meeting on implementation of the special 'bail-out' package.

"The brokerage firms and merchant banks were supposed to submit the list of affected investors by April 1. Almost all merchant banks and brokerage firms submitted their respective lists by this deadline."

After assessing their lists the committee will submit its final list to the securities regulator by April 30, he told the newsmen.

The government, in line with the recommendation of the committee, made an announcement on March 05 to give 50 per cent waiver to the interest of the affected investors' margin loans.

The government also decided to preserve 20 per cent quota for such investors in the upcoming initial public offerings (IPOs).

In Tuesday's meeting it was also decided that an investor will not be able to generally apply for the IPOs, if he intends to avail the quota facility, as offered in the special scheme.

[ Last Page ] 2012-04-18