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Bangladesh: SEC approved the firm Nalco Alloys for public listing

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DHAKA, 16 April, 2021 (TON): On Thursday, the Securities and Exchange Commission (SEC) approved the Nialco Alloys Small and Medium Enterprise or SME sector for public listing.

SEC said, the firm will raise Tk 75 million capita from the stock market by selling 7.5 million shares at Tk 10 each.

The regulator said Nialco’s listing is not traditional initial public offering (IPO), meaning not all general investors can buy the shares of the firms.

Only eligible and institutional investors can invest in SME shares, which are considered risky.

Under the SME Board, Bangladeshi and foreign individuals with investment more than Tk 10 million as per market price can invest in the shares.

However, it is expected that the approval will make the path easier for SME firms to expand business through public listing.

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