DSE plans to digitalise IPO process
New smart submission system launched to ease regulatory hassles and end hardcopy submissions
The Dhaka Stock Exchange (DSE) plans to digitalise the country's Initial Public Offering (IPO) process as part of a broader effort to make the country's capital market more modern and technology-driven, its Chairman Mominul Islam has announced.
Speaking at the inauguration of the "Regulatory Submission Module and CSE Onboarding" under the DSE's Smart Submission System, held at the Nikunja DSE Tower in the capital today (26 November), the chairman said that listed companies will now be able to submit all regulatory requirements and company-related information entirely online.
"This is a major step forward," he said, noting that discussions are already under way to enable the submission of IPO-related documents through the same digital platform in the future. Once implemented, the digital system will eliminate the need for hard copies and allow simultaneous access to information by both stock exchanges.
The Bangladesh Securities and Exchange Commission (BSEC) will also be connected to this process. The new system is expected to reduce hassle for listed companies.
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BSEC Commissioner Md Saifuddin, said that capital market operating agencies in emerging and frontier economies around the world have already embraced technology, whereas Bangladesh is yet to catch up.
"Operating agencies must adopt forward-looking strategies and prioritise technology adaptation," he said.
Saifuddin further stated that there should be no division among operating agencies, and each institution must work collectively through its own dedicated team.
DSE's Chief Operating Officer and Acting Managing Director Mohammad Asadur Rahman said that the introduction of the new system will enhance efficiency, transparency, and dynamism in market operations. "The system will also facilitate the future introduction of XBRL in Bangladesh."
