Kayes M Sohel

from Chittagong

Securities regulator Tuesday urged the big companies to list on the stock exchange to help stabilise the market.

The call came against the backdrop of supply shortage faced by the market at present.

"Supply of quality securities is necessary to bring stability and depth in the market," said Ziaul Haque Khondker, chairman of the Securities and Exchange Commission (SEC), while inaugurating a two-day capital market fair organised by the Chittagong Stock Exchange (CSE).

He said, during the last few years, the market had gone through a number of positive and far-reaching reforms in the regulatory front as well as in the operational aspects.

"In recent times, young and educated investors have come to the market, setting a bright prospect for it," he said adding that this also has brought demographic change in the market.

In a span of just four to five months the number of active Beneficiary Owners (BO) account increased to 1.8 million (18 lakh) from 1.2 million, generating a lot of interest towards the market.

The SEC chief said, "Now, we need to concentrate on retaining trust and confidence further by giving quality services to the investors."

Dhaka Stock Exchange President Rakibur Rahman has expressed his disappointment over dilly-dallying in offloading shares of the State-owned Enterprises (SoEs).

"It is urgently needed right at the moment for the SoEs to list on the bourses in order to increase shares in the shallow market and to bring depth in it," he said.

"The market will instill life in economy in the days to come as entrepreneurs are gradually showing interest in it," he added.

By 2010, the market will have a big stride as the turnover will cross Tk 30.0 billion from the current Tk 10.0 billion, he hoped.

CSE President Nasir Uddin Ahmed Chowdhury said, "Our market is mainly based on equity. We need to introduce new products to minimise the risk."

"The bond market needs to be activated along with the equity-based market," he said.

Local entrepreneurs feel hesitated to come to the market as they fear that they will not get fair prices of the IPO.

But the Book Building Method, introduced recently, will ensure them of getting fair prices, said Chowdhury.

Grameenphone chief financial officer Raihan Shamsi was present at the function, among others.

Our Chittagong Office adds: The two-day capital market fair organised by the Chittagong Stock Market (CSE) began Tuesday with the call to bring qualitative change in the share market to boost up investment from locals and non-resident Bangladeshis (NRBs).

The CSE organised the fair being held at the auditorium of the Institution of Engineers, Chittagong.

About 30 companies, including banks and brokerage houses, are participating in the fair.

The concluding ceremony of the fair will be held today (Wednesday).

Chairman of the Parliamentary Standing Committee of Finance Ministry ANH Mostafa Kamal will attend the concluding ceremony as the chief guest.