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10 SMALL CAP COS TO BE LISTED ON DSE’S SME PLATFORM

The country’s small and medium enterprises (SMEs) will be able to attract foreign investments through V-Next online platform introduced by the Dhaka Stock Exchange (DSE), discussants said. They said this on Monday at a promotional programme arranged by the DSE at a city hotel as part of their move to make their V-Next platform popular. The chairman of the Bangladesh Securities and Exchange Commission (BSEC) professor M Khairul Hossain attended the programme as the chief guest and said the depth of the capital market will be enhanced through V-Next platform.

The DSE introduced the V-Next platform in May last for the SMEs who are looking for foreign investors. The SMEs will be able to seek foreign investments through the V-Next online platform by uploading details of their firms. In his speech, the BSEC chairman said they are ‘lucky’ as the Chinese consortium has become strategic partner of the prime bourse. “The market intermediaries will be able to increase their operating profits by taking the advantage of V-Next platform,” Khairul said. He said the V-Next platform will play a vital role to intensify the foreign portfolio investments in SMEs and listed companies as well. “The corporate culture and governance of our companies will also be enriched,” BSEC chairman Khairul said. He, however, warned the market intermediaries to remain cautious so that rumour-based practices do not affect the SME platform. The premier bourse has also taken the initiative of connecting the local sponsors to the SME platform of the Chinese consortium comprising Shenzhen Stock Exchange and Shanghai Stock Exchange.

At Monday’s programme, the BSEC chairman said some 10 small cap companies are under the pipeline to be listed on the DSE’s SME platform. “One company will get the listing approval soon,” BSEC chairman added. Waqar Ahmed Choudhury, managing director of Vanguard Asset Management, said many SMEs will get support from foreign investors to strengthen their capital base. “The financial hurdles of the small cap companies will be reduced through the introduction of V-Next platform,” Waqar said. Minhaz Mannan Emon, a DSE director, said the country’s capital market now reap the benefits from the Chinese consortium. “V-Next will reply to the questions regarding expectations. The country’s premier bourse will reach a new height,” Emon said in his speech. DSE chairman Professor Abul Hashem, managing director (in-charge) Abdul Matin Patwary, among others, also spoke at the programme, attended by BSEC commissioners and top executives of different capital market related entities.

Source: The Financial Express, 09.10.2019

Link: http://today.thefinancialexpress.com.bd/stock-corporate/10-small-cap-cos-to-be-listed-on-dses-sme-platform-1570549070