Notification regarding lock-in for IPO shares

Registered No. D.A-1
Bangladesh Gazette
Extraordinary
Published by Authority
Tuesday, May 29, 2018
[ Notifications and Notices Issued by the Authority to Private Persons and Corporations ]

Securities and Exchange Commission Rules, 1987 Securities and Exchange Commission Rules, 1987 Amendment No. U-6/I

From: The Secretary to the Government of Bangladesh To: The Director General, Securities and Exchange Commission of Bangladesh, Dhaka-1207.

Subject: Amendment No. U-6/I of the Securities and Exchange Commission Rules, 1987.

Reference: Notification No. U-6/I/SECP/2009-193/184/Secretary/67 dated September 13, 2016, published in the Bangladesh Gazette (Extraordinary) on September 16, 2016, and the subsequent notification regarding the lock-in of shares issued in Initial Public Offerings (IPO).

Whereas, under Rule 6119 of the Securities and Exchange Commission Rules, 1987, the Securities and Exchange Commission of Bangladesh has prescribed a lock-in period for shares issued in Initial Public Offerings;

Now, therefore, in exercise of the powers conferred by Rule 6119 of the Securities and Exchange Commission Rules, 1987 (Rule No. 19 of 1987), the Securities and Exchange Commission of Bangladesh hereby amends the said Rules as follows:

1. In the Securities and Exchange Commission Rules, 1987, in Rule 6119, after the proviso, the following proviso shall be inserted, namely:

"Provided further that shares held by promoters, directors, and key managerial personnel shall be subject to a lock-in of 10% of their holding for a period of six months from the date of allotment, unless otherwise exempted by the Commission."

2. This notification shall come into force immediately.

Issued by:
Securities and Exchange Commission of Bangladesh

Date: December 12, 2018
Ref: U-6/I/SECP/2009-193/205/Secretary/78

Printed by: Md. Lal Hossain, Deputy Director, Bangladesh Government Printing Press, Tejgaon, Dhaka.
Published by: Md. Shorovar Hossain, Deputy Director (Additional Charge), Bangladesh Form and Publication Office, Tejgaon, Dhaka.

Price: Taka 4.00

6120 Bangladesh Gazette, Extraordinary, May 29, 2018

Notification No. U-6/I/SECP/2009-193/205/Secretary/78

In pursuance of the powers conferred by Rule 6119 of the Securities and Exchange Commission Rules, 1987, the Securities and Exchange Commission of Bangladesh hereby amends the said Rules as follows:

1. In the Securities and Exchange Commission Rules, 1987, in Rule 6119, after the proviso, the following proviso shall be inserted, namely:

"Provided further that shares held by promoters, directors, and key managerial personnel shall be subject to a lock-in of 10% of their holding for a period of six months from the date of allotment, unless otherwise exempted by the Commission."

2. This notification shall come into force immediately.

Issued by:
Securities and Exchange Commission of Bangladesh

Date: December 12, 2018
Ref: U-6/I/SECP/2009-193/205/Secretary/78

Printed by: Md. Lal Hossain, Deputy Director, Bangladesh Government Printing Press, Tejgaon, Dhaka.
Published by: Md. Shorovar Hossain, Deputy Director (Additional Charge), Bangladesh Form and Publication Office, Tejgaon, Dhaka.

Price: Taka 4.00

6120 Bangladesh Gazette, Extraordinary, May 29, 2018