IPO lottery takes place on digital platform | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
May 11, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, MAY 11, 2025
IPO lottery takes place on digital platform

Stocks

TBS Report
16 July, 2020, 09:05 pm
Last modified: 16 July, 2020, 09:12 pm

Related News

  • BSEC calls for wider tax gap to revive dormant IPO market
  • Reform Task Force proposes allowing issue managers to participate in IPOs
  • BSEC to revise IPO rules, ending private share offerings for issuer employees
  • Bangladeshi expat wins over Tk65 crore in Abu Dhabi lottery
  • Binimoy: How a state-funded digital platform was turned into a private profit machine

IPO lottery takes place on digital platform

The Bangladesh Securities and Exchange Commission wants to bring everything under the digital platform and online systems

TBS Report
16 July, 2020, 09:05 pm
Last modified: 16 July, 2020, 09:12 pm
Photo: Collected
Photo: Collected

An issuer company has to hold an initial public offering (IPO) lottery through licensed digital platforms with manual systems supervised by the Central Depository Bangladesh Limited.

Besides, every issuer company will have to use the platform created by three organisations – the Bureau of Research, Testing and Consultation of the Bangladesh University of Engineering and Technology; Computer Science Department of Dhaka University, and the Bangladesh Computer Council.

Bangladesh Securities and Exchange Commission (BSEC) source said it had permitted Express Insurance Ltd to hold the virtual lottery because the commission wants to bring everything under the digital platform and online systems. However, a company has the freedom to choose both digital and manual platforms for the lottery.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Earlier, the company had applied to the commission for holding IPO lottery by the virtual systems.

The company completed its subscription within June 14 to July 2.

For the Covid-19 outbreak, the company could not complete its subscription on time. Thereby, the subscription was extended with the securities regulator's approval.

The company's IPO subscription date was set on April 13, but it could not receive applications on that day due to the general holidays.

Express Insurance secured approval from the BSEC to go public with a condition to invest at least 20 percent of its IPO fund in the capital market. It will deposit 74 percent of the fund in banks.

As per the approval, the insurer will raise a capital of Tk26 crore through offloading 2.6 crore ordinary shares at an offer price of Tk10 each under the fixed price method.

A market lot consists of 500 shares and an investor needs Tk5,000 to apply for each lot of IPO shares of a company.

AAA Finance and Investment, IIDFC Capital, and BLI Capital are working as issue managers of Express Insurance.

Economy / Top News

IPO / Lottery / digital platform

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infograph: TBS
    World Bank sees favouritism in digital bank licensing
  • Infograph: TBS
    Tk10cr 'safe landfill' project aims to curb Savar tannery pollution
  • Solar power project in Chattogram. Photo: TBS
    Govt's 5,238MW grid-tied solar push faces tepid response from investors

MOST VIEWED

  • A youth beating up two minor girls on a launch during a picnic in Munshiganj on 9 May 2025. Photo: TBS
    Minor girls beaten in Munshiganj launch: Beat them to discipline them as elder brother, assaulter says
  • The Advisory Council of the interim government holds a meeting at the state guest house Jamuna in Dhaka on 10 May 2025. Photo: PID
    Interim govt decides to ban AL
  • US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu meet at the White House in Washington, US, February 4, 2025. Photo: REUTERS/Elizabeth Frantz
    Trump cuts ties with Netanyahu over manipulation concerns: Israeli media
  • People stand next to a damaged vehicle in a neighbourhood, following Pakistan's military operation against India, in Rehari, Jammu, May 10, 2025. Reuters/Adnan Abidi
    Pakistan reopens airspace after ceasefire with India
  • Photo: BSS
    Govt action looms against 18 private universities in Bangladesh
  • Photo: Rajib Dhar
    Decision to ban AL sparks jubilation among protesters

Related News

  • BSEC calls for wider tax gap to revive dormant IPO market
  • Reform Task Force proposes allowing issue managers to participate in IPOs
  • BSEC to revise IPO rules, ending private share offerings for issuer employees
  • Bangladeshi expat wins over Tk65 crore in Abu Dhabi lottery
  • Binimoy: How a state-funded digital platform was turned into a private profit machine

Features

The design language of the fourth generation Velfire is more mature than the rather angular, maximalist approach of the last generation. PHOTO: Arfin Kazi

2025 Toyota Vellfire: The Japanese land yacht

12h | Wheels
Kadambari Exclusive by Razbi’s summer shari collection features fabrics like Handloomed Cotton, Andi Cotton, Adi Cotton, Muslin and Pure Silk.

Cooling threads, cultural roots: Sharis for a softer summer

1d | Mode
Graphics: TBS

The voice of possibility: How Verbex.ai is giving AI a Bangladeshi accent

1d | Panorama
Graphics: TBS

Why can’t India and Pakistan make peace?

2d | The Big Picture

More Videos from TBS

Fact check: Canadian tourism to Florida dropped by 80 percent!

Fact check: Canadian tourism to Florida dropped by 80 percent!

11h | Others
Meherpur eyes Tk 2.9 billion from mango and lychee.

Meherpur eyes Tk 2.9 billion from mango and lychee.

1h | TBS Stories
Rumors about nuclear weapons; Pakistan says there was no meeting.

Rumors about nuclear weapons; Pakistan says there was no meeting.

12h | TBS World
China-United States 'Icebreaker' Meeting: Will the Trade War Diminish or Rise Conflict?

China-United States 'Icebreaker' Meeting: Will the Trade War Diminish or Rise Conflict?

13h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net