All Rights Reserved. Modi government in Budget 2020 had proposed to sell a part of its holding in LIC through an initial public offering (IPO), in a move to fetch a valuation of around Rs 8-10 lakh crore. L’entrée en Bourse de Palantir doit y contribuer, et le groupe s’apprête à se lancer dans le grand bain des marchés. July 15, 2020 / 8:27 AM / in a few seconds. 2A Media Limited. What’s new: China’s securities regulatory commission approved the initial public offering (IPO) registrations of four companies on Shenzhen’s start-up ChiNext board following recent regulatory changes aimed at fast-tracking IPOs. Their pre-IPO paid-up capital stood at Tk50 crore after issuing a huge number of placement shares worth Tk28 crore in 2018 and Tk12 crore in 2015.B Brothers Garments violated rules and overstated in its financial statements so that investors would be more interested in buying its shares.The company deposited its share money deposit in several bank accounts, but it was supposed to be deposited in a separate account.The readymade garment (RMG) company failed to submit the approved layout of the building to be constructed from IPO funds. All Rights Reserved.Sunday Long Read: Behind the Bet on China’s Pricey, Technologically Lagging Chipmakers Saudi Bourse Says Derivative Product to Boost Investment Profile Ahead of IPO By Reuters , Wire Service Content July 14, 2020 By Reuters , Wire Service Content July 14, 2020, at 10:45 a.m.
The BSEC fined the company Tk10 lakh for the irregularity.The commission had previously rejected the IPO applications of the company for violating rules.Besides, the company's two issue managers and its audit firms were fined Tk10 lakh and Tk2 lakh respectively by BSEC, for violations of guidelines on corporate governance.BSEC rejected JMI Hospital Requisite Manufacturing Limited’s IPO due to the company's falsified financial data.The company overstated receivables to display high revenue in its financial statement, sources said.The BSEC found that the Investment Corporation of Bangladesh (ICB) held 30% shares of JMI Hospital and was also issue manager of the company’s IPO, which was a violation of securities rules, BSEC officials said.Copyright Ⓒ 2012-2019. The four companies are performing event planner Beijing FengShangShiJi Culture Media Co. Ltd., medical instruments manufacturer Contec Medical Systems … The company has also violated the Public Issue Rules 2015.Al Faruque Bags Limited was involved in irregularities before coming to the stock market. The companies overstated profits and showed excess receivables in their financial statements, which was a violation of securities rules, they said.The companies whose IPO proposals were rejected were Infinity Technology International, B Brothers Garments, BD Paints, Beka Garments, JMI Hospital Requisite Manufacturing, SF Textile Industries and Al-Faruque Bags Limited.The commission has moved to amend and later expedite the IPO approval process to increase the scope of the country’s bourses, said BSEC officials.Industry insiders say the BSEC adopted this policy of making no compromises on approving IPO approvals so as to not repeat mistakes made by the previous commission.IPOs of good companies with robust financials are being approved, a top BSEC official said.BSEC spokesperson Md Rezaul Karim told Dhaka Tribune that common investors suffer when bad companies with questionable financials enter the market.
Bourse braces for its biggest IPO yet 5 min read June 29, 2020 Robi is set to come up with the country’s biggest-ever initial public offering yet within a couple of months, in what can be viewed as finally some good news for the depressed bourse. The commission will not allow anything that hurts investors.The BSEC cancelled the IPO proposals of seven companies based on its own observations and of the stock exchanges themselves. Saudi bourse says derivative product to boost investment profile ahead of IPO. The companies and their underwriters will coordinate with the Shenzhen Stock Exchange to determine listing dates, the China Securities Regulatory Commission (CSRC) said Friday in a statement.Under the registration-based listing system, the Shenzhen exchange vets IPO applications based on disclosure rules and then files the applicants’ registrations with the CSRC. Consultez toutes les introductions en bourse sur Investir-Les Echos Bourse ... Warner Music lève $1,9 md avec son IPO, la plus grande de 2020 aux USA 13:52 | REUTERS. The company's audited financial statement as of June 30, 2016, was signed by only one director, which is a violation of Companies Act 1994, BSEC sources said.Infinity Technology International Ltd did not submit audit certificates on the utilization of funds raised earlier. It also showed Tk216.34 crore in sales and Tk271.88 crore in total assets in the same fiscal.SF Textile showed a net profit after taxes of Tk21.33 crore for 2019, and Tk21.7 crore for 2018. It also showed Tk175.81 crore in sales and Tk319.02 crore in total assets in 2019.BD Paints showed higher sales, with a lower inventory turnover ratio and return on equity to paint a rosy picture in their financial statements, BSEC officials said. BSEC officials said that the commission found a number of inconsistencies in the financial documents of those companiesThe Bangladesh Securities and Exchange Commission (BSEC) has so far rejected the initial public offering (IPO) applications of seven companies for violating securities rules, after a new chairman took charge in May.The stock market regulator also sent separate letters to the companies and its issue managers, informing them of their decision.The letters were sent between June and the first week of August.BSEC officials said that the commission found a number of inconsistencies in the financial documents of those companies.
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