Broadly, an equity capital markets listing requires that the company be a public limited company meeting BSEC's eligibility criteria for the chosen board, which typically relate to paid-up capital, operating history, profitability or other financial metrics, audited accounts and governance. It must appoint an issue manager, obtain valuation reports where required, prepare a prospectus, and obtain BSEC consent and exchange approval. Sponsors and directors face lock-in requirements on their shares. Criteria differ between the main board and the SME platform and have changed over time, so we confirm the current requirements for each company at the outset.

There is no fixed statutory period. Preparation, including restructuring, due diligence, audits and drafting, can take many months, depending largely on how ready the company is. BSEC review then takes time, often with queries and requests for further information, followed by subscription, allotment and listing. Book building adds a bidding stage for eligible investors before the public offer. Market conditions, investor appetite and the regulator's priorities affect timing. We help issuers set a realistic plan and keep the legal workstream moving, so that the equity capital markets process is not held up by avoidable legal issues.

In a fixed price offer, the issue price is set in advance, subject to BSEC's valuation and pricing requirements, and the public subscribes at that price. In book building, eligible investors bid through an electronic process to discover a cut-off price, after which the general public subscribes, typically at a discount to that price. Book building can support higher valuations for strong companies but involves more process, more investor scrutiny and more detailed disclosure. The available methods and their conditions are set by BSEC's public issue rules and should be confirmed afresh for each transaction.

Yes. Several well-known subsidiaries of multinational groups are listed on the Dhaka and Chittagong exchanges. A foreign-owned company considering a listing must meet the same eligibility, disclosure and governance requirements as local issuers, and must address issues such as related-party arrangements with the parent, royalty and service fees, and the treatment of foreign shareholders in any offering. Foreign investment records and approvals, now within the Invest Bangladesh framework that replaced BIDA from 23 August 2026, should be in order before listing. We advise multinational groups on whether and how to approach the Bangladesh equity capital markets.

Yes. Foreign portfolio investors can invest in listed shares through accounts and channels that Bangladesh Bank recognises for that purpose, typically by opening a designated foreign currency or Taka account with an authorised dealer bank and a beneficial owner account with a broker. Investments made through these channels can usually be repatriated, together with dividends, after tax and with supporting documents. Some sectors, such as banking and telecoms, have specific shareholding limits or approvals. Significant acquisitions may trigger BSEC's takeover rules. We advise foreign investors entering the equity capital markets on account structure, tax and regulatory obligations.

A listed company must prepare and publish quarterly, half-yearly and annual financial statements within prescribed periods, disclose price-sensitive information promptly, comply with BSEC's corporate governance code, hold annual general meetings and observe dividend rules, including how and when dividends must be distributed. Directors and insiders must follow insider trading restrictions and disclose their dealings. Material related-party transactions require disclosure and, in some cases, approval. Breaches can lead to significant fines, trading restrictions or other enforcement action. In practice, we help listed companies in the equity capital markets build processes that make compliance routine and defensible.

BSEC's rules on substantial acquisition of shares and takeovers require disclosure when an acquirer crosses specified shareholding thresholds and impose a mandatory public offer when an acquirer, alone or with persons acting in concert, acquires shares or control above a defined level, unless an exemption applies. The thresholds, pricing rules and exemptions should be checked in the current rules for each transaction. Indirect acquisitions, such as buying the parent of a listed company, can also be relevant and are sometimes overlooked. We advise acquirers, sellers and target boards on structuring, timing and compliance with these rules.

Delisting is possible in Bangladesh but tightly controlled, because it removes the liquidity that public shareholders relied on when they invested. Voluntary delisting generally requires a special resolution or other shareholder approval, regulatory consent and an exit offer to minority shareholders on terms that protect them, and exchanges may also delist companies compulsorily for serious non-compliance. A sponsor or investor group considering a take-private should plan for valuation, financing, regulatory engagement and possible minority challenges. We advise on feasibility, the steps involved and the risks, before any announcement, approach to shareholders or market rumour forces the timetable.