The issue of allowing private companies direct listing on Bangladesh’s stock market has resurfaced amid discussions on the draft Initial Public Offering (IPO) Regulations 2025. Market stakeholders, including the Dhaka Stock Exchange (DSE) and the DSE Brokers Association (DBA), argue that enabling direct listing for large private and multinational firms would increase quality share supply and restore investor confidence. DBA President Saiful Islam proposed a hybrid model allowing company directors to sell part of their shares directly through IPOs to attract more firms to the market. Currently, the Bangladesh Securities and Exchange Commission (BSEC) bans direct listing for private companies, though government firms may do so. BSEC officials clarified that direct listing falls under listing regulations, not IPO rules. Critics recall past controversies, such as the 2009 Summit Group listings that led to market manipulation allegations. Despite concerns, experts stress that new quality listings are vital to overcome the ongoing liquidity and confidence crisis in the capital market, where no new company has been listed for over a year.