General process of listing with Dhaka Stock Exchange (DSE)
- The unlisted companies are required to complete certain procedures to get listing at DSE (Exchange). The present process/way of listing, in short, may describe as follows:
- Every company intending to enlist its securities to DSE by issuing its securities through IPO is required to appoint Issue Manager to proceed with the listing process of the company in the Exchange;
- The Issue Manager prepares the draft prospectus of the company as per Public Issue Rules of SEC and submit the same to the SEC and the Exchange(s) for necessary approval;
- The Issuer is also required to make agreement with the Underwriter(s) and Bankers to the Issue for IPO purpose;
- After receiving the draft prospectus, the Exchange examine and evaluate overall performance as well as financial features of the company which may have short term and long term impact on the market;
- The Exchange send its opinion to SEC within 15 days of receipt of draft prospectus for SEC's consideration;
- After proper scrutiny, SEC gives it consent for floating IPO as per Public Issue Rule;
- Having consent from SEC, the Issuer is required to file application to the Exchange for listing its securities within 5 days of issuance of its prospectus;
- On successful subscription, the company is required to complete distribution of allotment/refund warrants within 42 days of closing of subscription;
- After 100% distribution of shares/refund warrants and compliance of other requirements, the application for listing of the Issuer is placed to the Exchange's meeting for necessary decision of the Board of DSE;
- The Board of DSE takes the decision regarding listing/non-listing of the company which must be completed within 75 days from the closure of the subscription.
