RegAlert

Rule · BSEC · 31 Aug 2010

Amendment to the Public Issue Rules, 2006

securities

The Securities and Exchange Commission amends the Securities and Exchange Commission (Public Issue) Rules, 2006 by replacing the definition of 'repeat public offering' in Rule 2(q) to include further public offerings by listed issuers or those that have previously raised capital, as well as securities with conversion features. A new Rule 4A establishes distribution mechanisms for such offerings, requiring at least 40% reserved for existing shareholders and 40% for public offering, with a maximum of 20% permitted for private placement. Securities issued under these provisions are prohibited from being redeemed, either partly or fully, for a minimum period of two years following issuance.

BangladeshBangladesh Securities and Exchange Commission

NOTIFICATION
August 31, 2010
No. SEC/CMRRCD/2003-109/60/Admin/----------- In exercise of power conferred by section 33 of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Securities and Exchange Commission makes, after prior circulation, the following further amendments to the Securities and Exchange Commission (Public Issue) Rules, 2006, namely:- The Securities and Exchange Commission (Public Issue) Rules, 2006 shall be amended in the following manner, namely;-

  1. In these rules, definition (q) in sub-rule (1) of rule 2, shall be replaced by the following, namely;-
    “2. (q) “repeat public offering” means further public offering for issuance of additional security by an issuer which is either listed with stock exchange or has raised capital through public offering. Measures for issuance of additional security having conversion feature (into ordinary share) by the said issuer shall also be deemed to be repeat public offering for the purpose of these Rules;”.
  2. In these rules, after rule 4, the following new rule 4A shall be inserted, namely;-
    “4A. Distribution mechanism of securities having conversion feature in Repeat Public Offering.- The distribution of securities having conversion feature in Repeat Public Offering shall be the following:
    (a) At least 40% of the issue shall be reserved for the existing shareholders; (b) At least 40% of the issue shall be reserved for Public Offering; (c) Maximum 20% of the issue may be made through private placement:
    Provided that the securities so issued shall not be redeemed either partly or fully before a minimum period of 2(two) years of issuance.”. By Order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman.

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Ordinance No. XVII of 1969Not in RegAlertOrdinance No. XVII of 1969 — Not in RegAlertSecurities and Exchange Commission(Public Issue) Rules, 2006Not in RegAlertSecurities and Exchange Commission (Public Issue) Rules, 2006 — Not in RegAlertAmendment to the Public IssueRules, 20062010-08-31 · this documentAmendment to the Public Issue Rules, 2006 (2010-08-31)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Amends
  • Securities and Exchange Commission (Public Issue) Rules, 2006Not in RegAlert

    “the Securities and Exchange Commission (Public Issue) Rules, 2006 shall be amended in the following manner”

Issued under
  • Ordinance No. XVII of 1969Not in RegAlert

    “In exercise of power conferred by section 33 of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969)”

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Source: Bangladesh Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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