ZCZC
BSS-46
KAMAL-CAPITAL MARKET
7 state-owned companies to enter capital market soon: Kamal
DHAKA, Feb 2, 2020 (BSS) – Finance Minister AHM Mustafa Kamal today said
that seven state-owned companies in the power and energy sector is going to
enter the capital market soon to further revitalize the share market.
The Minister said this after chairing a meeting on offloading of shares by
the profitable state-owned companies held at the NEC conference room in the
city’s Sher-e-Bangla Nagar area today.
Kamal said more government entities and companies need to enter the
capital market for reviving it. The seven companies which would offload
shares gradually are Titas Gas Transmission & Distribution Company Limited,
Power Grid Company of Bangladesh, North West Power Generation Company,
Electricity Generation Company of Bangladesh Limited, Ashuganj Power Station
Company Limited, B-R Powergen Ltd and Gas Transmission Company Ltd.
The Finance Minister said these companies should have to be sustainable
while the balance sheet of each of the company should have to be assessed.
He said the current value of the assets of those companies is not the same
which was 10 years back and those should have to be revalued at current
price.
“We’ve to give some time to those companies for revaluing their assets and
it would take around two months time,” he said.
Kamal said it would be possible to revalue the assets of these seven
companies within two months time while the valuation of the shares of these
companies would be assessed as per their net assets.
From 10 percent to 25 percent of the shares of these companies would be
offloaded gradually as per of initial step, he informed.
The Finance Minister said these government companies could assess their
assets by private firms or could take support from the Investment Corporation
of Bangladesh (ICB) in this regard.
“We want to bring these seven government companies in the power and energy
sector soon. For this, we’re going to assess the assets of those seven
companies by seven firms so that the task is accomplished soon.” He added.
BSS/ASG/GM/SSS/1926 hrs