Listing Procedure

General stages and relevant processes of listing with DSE through IPO
Decision to go Public:
Take Board decision to go public
Appoint Issue Manager(s) from Bangladesh Securities and Exchange Commission
(BSEC) approved list
Decide method of public offer with assistance from Issue Manager Fixed Price or
Book Building or Direct Listing
Get Accounts audited by BSEC approved Panel of Auditors
Initiate process for credit rating - Mandatory for Bank, Insurance, NBFI and any issue
with offer price at premium
Develop a Company Website
Prepare Draft Prospectus/Red-herring Prospectus/Draft Information
Memorandum:
Assist Issue Manager in preparing Draft Prospectus in accordance with Bangladesh
Securities and Exchange Commission (Public Issue) Rules, 2015
Appoint Underwriters
In case of IPO under Book Building Method
Prepare a Red-herring Prospectus
Send invitation to Eligible Investors (EIs) for Road Show
Conducting Road Show
Collect comments and observations from EIs who participated in the road show in
accordance with rules of the Bangladesh Securities and Exchange Commission
(Public Issue) Rules, 2015
Finalize the Red-herring Prospectus
Apply to BSEC for Public Offer:
Apply to BSEC for IPO under the Bangladesh Securities and Exchange Commission
(Public Issue) Rules, 2015. Submit copies of Draft prospectus/Red- herring
Prospectus along with relevant documents to Exchanges simultaneously.
Assist Issue Manager in updating draft prospectus to comply with or fulfill
deficiencies identified by BSEC/Exchange.
Post the draft Prospectus/Red-herring Prospectus on Company's and Issue Manager's
Website.
Bidding by EIs (for Book-Building only):
Obtain BSEC consent for bidding
Apply to Exchanges for holding bidding with BSEC consent for bidding
Sign agreement to share Book Building Software for bidding and payment of fees
thereof
Determine the cut-off price through Book-Building Software
On completion of bidding collect allotment list for EI and cut-off price from the
Exchange
Submit the details of bidding along with draft prospectus to BSEC for approval.
Approval of IPO:
Collect consent letter issued by BSEC
Print abridged version of the approved and vetted prospectus in widely circulated
two Bengali and two English News Papers
Print Final Prospectus
Post the vetted Prospectus on Website of Issuer, Issue Manager, Commission, and
Exchange.
Apply for Listing with Exchanges in accordance with BSEC (Public Issue) Rules, 2015
and the Listing Regulations of the Exchanges.
Subscription and Lottery:
Start subscription for IPO through designated Stock Brokers/Merchant Bankers.
Assist Issue Manager and Registrar to the issue/Post Issue Manager in completing
formalities related to subscription, lottery, refund and crediting shares to successful
allottees.
After subscription period, submit subscription status to BSEC and the Exchanges
where the issuer wishes to get listed.
Hold lottery in case of over subscription under general public category.
Distribute securities on pro-rata basis in case of over subscription under category of
eligible investors.

Allotment and Refund:

o Distribute Allotment letter in electronic form and Complete Refund Process

 o After distribution of allotment letters/completion of refund submit a compliance

report before the Commission and the Exchanges.

o If issue was not subscribed by minimum required quantity refund the subscribers.

Listing Approval by the Exchange(s):

o After distribution of allotment letters/refund warrants and compliance of other

requirements, the application for listing by the Issuer is placed for listing approval

o Listing is approved or rejected

Credit Share/Units:

o If listing is approved by the Exchange, issuer shall apply to CDBL for crediting

tradable shares/units as per allotment.

Commencement of Trading of scrips on the Bourse(s):

o Once shares/units are credited and confirmed by CDBL, commencement date for

trading is announced by the respective Exchange.