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The securities regulator will fix new timeframe after opening its office to seek public opinion on the draft rules required to issue new TREC (trading right entitlement certificate).
The decision was taken on Wednesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
At Wednesday's meeting, the securities regulator also approved the draft prospectus of VIPB Balanced Fund.
The securities regulator published the draft rules titled Bangladesh Securities and Exchange Commission (Trading Right Entitlement Certificate) Rules, 2020 on March 26 seeking public opinion.
Timeframe of submitting public holiday ended on April 15. The stakeholders were not able to submit their opinion on the draft as the stock market, and the offices of stock exchanges and the BSEC still remained closed due to public holiday.
Under such a situation, the BSEC has decided to fix new timeframe for submitting public opinion on the draft rules after opening its office.
As per the BSEC approval, the sponsor of VIPB Balanced Fund will contribute Tk 10 million, while remaining Tk 90 million will be collected through sales of units.
VIPB Asset Management Company is the sponsor and asset manager of the VIPB Balanced Fund.
On Wednesday, the BSEC also approved some revised rules regarding qualified investor offer, alternative investment, and debt securities.
After the public holiday, the securities regulator will complete relevant formalities to finalise these rules.