SEC Annual Report,1998-99 

1.  The Commission issued Consent order to raise Share Capital of the following companies for 1998-99: 
SL  Name of the company
No. of shares issued Face Value

per share (Taka) 

Date of Approval  Total amount Taka (Million) Remarks 
1. National Housing Finance and Investments Ltd.  40,00,000 100.00 30.08.98 400.00 at par
2. Bengal Tiger Cement Industries Ltd. 11,80,000 100.00 10.09.98 118.00 at par
3. T.K Chemical Complex Ltd. 20,00,000 100.00 14.09.98 200.00 at par
4. * Meghna Pet Industries Ltd. 12,00,000 100.00 02.12.98 120.00 at par
5. * Techone Textile Mills Ltd. 20,56,000 100.00 06.12.98 205.60 at par
6. * T.K Chemical Complex Ltd. 60,00,000 100.00 20.12.98 600.00 at par
7. * Shamsuddin Spinning Mills Ltd. 25,00,000 100.00 08.12.98 250.00 at par

* Revised Consent

2. The Commission Issued Consent in respect of Pre-IPO placement of the following Companies for 1998-99:- 

SL Name of the Company No. of shares issued Face Value

per share (Taka) 

Date of Approval  Total amount Taka (Million) Remarks 
1. Rangpur Foundry Ltd.  2,00,000 100.00 07.12.98 20.00 at par
2. Sinobangla Industries Ltd. 6,00,000 10.00 20.12.98 6.00 at par
3. Rangpur Foundry Ltd. 10,00,000 10.00 24.01.99 10.00 at par

3.  The Commission has issued Gazette Notification SEC/Section-7/PIR-98/140 dated 25th January 1999, regarding Public Issue Rules,1998.(copy enclosed)

4.  The Securities and Exchange Commission granted all Companies exemption from the provision of Section 2A (2) (a) of the Securities and Exchange Ordinance 1969 (XVII of 1969) under the Gazette Notification SEC/Section-7/Cap Sanction/99-144 dated 7th June 1999.(copy enclosed)
5.  During this period SEC made certain amendments to the Public Issue Rules,1998 through Gazette Notification SEC/ Section-7/PIR-98/143 dated 3rd June1999.(copy enclosed)

These amendments are:-

(i)  Sub-Rule (3) of Rule 5 shall be substituted by the following Sub-Rule (3):

“The issuer shall also put the vetted Prospectus on the web site of the Securities and Exchange Commission, for the period of subscription of the issue. The issuer shall submit to the Securities and Exchange Commission a diskette containing the text of the vetted Prospectus in “MS-Word” format”

(ii)  In Sub-Rule (2) of Rule 18 after the word “fifteen”, the word “working” shall be added.

(iii)   After Rule 19 a new Rule as Rule 19A shall be added as follows :-
“Rule 19A. Hologram: All issuers at the time of issuance of certificates shall affix a hologram on the certificates”.
6.  The Commission has approved / vetted Prospectus of the following Companies (Annexure-A) for 1998-99