The Bangladesh Securities and Exchange Commission (BSEC) recently issued a letter to 17 state-owned companies, asking them to get enlisted on the capital market.
Of these, nine companies are in the power and energy sector, two in engineering, two in travel and the remaining two being Biman Bangladesh Airlines and Essential Drugs.
Rezaul Karim, executive director at BSEC, said that state-owned companies have not been listed on the stock exchange for a long time, which was why the letter was sent to those companies whose financial condition is good.
Some companies were supposed to be listed in the market but none of them has applied so far, he added.
No other government company has entered the stock market since the listing of Bangladesh Submarine Cable Company Limited in 2012.
Karim also said that after being listed, there is an opportunity for companies to expand the business by raising capital in various ways including equity shares and bonds, with the participation of the general people.
The BSEC has issued letters to Bakhrabad Gas Distribution Company Ltd, LP Gas Ltd, Gas Transmission Company Limited, Jalalabad Gas Transmission and Distribution System Limited, Sylhet Gas Fields Limited, Bangladesh Gas Fields Company Limited, Rupantarita Prakritik Gas Company Limited, North-West Power Generation Company Ltd, Electricity Generation Company of Bangladesh.
The other companies are Pragoti Industries, Karnaphuli Paper Mills, Bangladesh Insulator and Sanitaryware Factory, Hotels International Limited, Biman Bangladesh Airlines, Bangladesh Telecommunications Company Limited, Bangladesh Cable Shilpa, and Essential Drugs Company Limited.
