UNB, Dhaka :
The Power Division is going to explore the prospect of floating shares of more state-owned power companies in the stock market to collect funds for its future power projects.
The idea was discussed at a recent meeting at Biduyt Bhaban convened by the Power Division.
Heads of different organisations involved in stock market and financial institutions like the Security and Exchange Commission (SEC), Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), Investment Corporation of Bangladesh (ICB), different banks, and stock brokers participated in the meeting expressed their positive view about the idea.
Chiefs of different entities in power sector like Power Development Board, Rural Electrification Board (REB), Dhaka Power Distribution Company Ltd (DPDC), Dhaka Power Supply Company Ltd (Desco), Ashguganj Power Stations Company Ltd (APSCL) and Power Grid Company of Bangladesh Ltd (PGCB).
At present, 25 percent shares of each Desco and PGCB are trading on the bourses in the country as they offloaded their shares in the stock market about a decade ago. Besides, the shares of a number of private power companies are also being traded in the stock markets.
“The government is now thinking of bringing shares of more state-owned power companies in the stock market to collect funds for the implementation of future power projects,” State Minister for Power and Energy Nasrul Hamid told the meeting.
Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi Chowdhury and Power secretary Monwar Islam also spoke at the meeting on the occasion.
After the discussion, it was decided that the Power Division will organise a high-level workshop and more brainstorming sessions to widely discuss the idea of going to stock market for collecting money.
The state-owned entities in power sector were also asked to send their own thoughts to the Power Division soon on the issue.
An additional secretary at the Power Division, who participated in the meeting, told UNB that there are so many legal and procedural issues are involved in going to the stock market by state-owned companies.
“So, we’re taking more time to study the whole nitty-gritty of the matters because many of our companies’ executives do not have clear idea of the getting finance from the stock market,” he said.
The Power Division is going to explore the prospect of floating shares of more state-owned power companies in the stock market to collect funds for its future power projects.
The idea was discussed at a recent meeting at Biduyt Bhaban convened by the Power Division.
Heads of different organisations involved in stock market and financial institutions like the Security and Exchange Commission (SEC), Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), Investment Corporation of Bangladesh (ICB), different banks, and stock brokers participated in the meeting expressed their positive view about the idea.
Chiefs of different entities in power sector like Power Development Board, Rural Electrification Board (REB), Dhaka Power Distribution Company Ltd (DPDC), Dhaka Power Supply Company Ltd (Desco), Ashguganj Power Stations Company Ltd (APSCL) and Power Grid Company of Bangladesh Ltd (PGCB).
At present, 25 percent shares of each Desco and PGCB are trading on the bourses in the country as they offloaded their shares in the stock market about a decade ago. Besides, the shares of a number of private power companies are also being traded in the stock markets.
“The government is now thinking of bringing shares of more state-owned power companies in the stock market to collect funds for the implementation of future power projects,” State Minister for Power and Energy Nasrul Hamid told the meeting.
Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi Chowdhury and Power secretary Monwar Islam also spoke at the meeting on the occasion.
After the discussion, it was decided that the Power Division will organise a high-level workshop and more brainstorming sessions to widely discuss the idea of going to stock market for collecting money.
The state-owned entities in power sector were also asked to send their own thoughts to the Power Division soon on the issue.
An additional secretary at the Power Division, who participated in the meeting, told UNB that there are so many legal and procedural issues are involved in going to the stock market by state-owned companies.
“So, we’re taking more time to study the whole nitty-gritty of the matters because many of our companies’ executives do not have clear idea of the getting finance from the stock market,” he said.
