One of Bangladesh's leading industrial conglomerates, DBL Group, plans to list at least five more companies on the country's capital market over the next four years as part of its strategy to strengthen corporate governance, institutionalise professional management and ensure long-term business sustainability.
The move comes at a time when the country's capital market has gone more than two years without a single new listing and is expected to expand investment opportunities while injecting fresh momentum into the market.
The plan will begin with the initial public offerings (IPOs) of Parkway Packaging and Printing Limited and Thanbee Print World Limited, which aim to raise around Tk 100 crore within the next nine months. The proceeds will be used for capacity expansion and working capital, respectively.
Both companies plan to list on the main board of the stock exchange and have appointed Shanta Equity Limited as the issue manager for their proposed IPOs.
According to the group's roadmap, at least five companies will be listed over the following four years after the successful completion of these IPOs.
Speaking to The Financial Express, DBL Group Vice-Chairman M A Rahim said the group had initially planned to float the two companies during the tenure of the interim government but suspended the process after prolonged regulatory delays.
"The regulator raised several queries, and we responded to all of them. However, as the process dragged on, it became clear that the IPOs were unlikely to proceed at that time, so we decided to put the initiative on hold," he said.
Mr Rahim said the group revived the plan after the parliamentary elections in February 2026 and the formation of the new government, encouraged by its pro-capital market stance and efforts to attract large, well-managed companies to the bourse.
"The government, particularly the finance minister, has expressed interest in bringing more quality companies to the capital market to make it more vibrant," he said.
"We expect to complete the required documentation by November. Our target is to launch Parkway Packaging's IPO by December this year, while Thanbee Print World is expected to go public by March 2027."
The DBL Group vice-chairman said the successful listing of the two companies would pave the way for a series of future IPOs.
"We aim to list one textile company by the end of 2027, followed by others in phases. Over the next four years, we hope to list at least five companies," he added.
Mr Rahim said raising capital was not the group's primary objective.
"At present, our four brothers jointly manage the business. As the family expands, not everyone will necessarily remain involved in management. We want these companies to be run by professional executives.
"Family members who wish to remain involved can do so, while others can remain shareholders and benefit from the companies' growth and dividend income," said Mr Rahim.
He said the group ultimately aims to build a sustainable corporate structure with stronger governance and greater transparency.
"Once listed, the companies will have independent directors, greater regulatory oversight, regular financial disclosures and a much stronger corporate governance framework."
According to Mr Rahim, Parkway Packaging and Printing plans to raise around Tk 70 crore through its IPO to expand its carton manufacturing facility.
Thanbee Print World plans to raise around Tk 30 crore, primarily to finance working capital.
"We are not seeking to raise a large amount of capital. We are considering offering only the minimum percentage of shares required under the regulations to become a listed company. Our primary objective is to strengthen corporate governance," he said.
Parkway Packaging and Printing Limited began commercial operations in 2008. It has a paid-up capital of Tk 45 crore and annual turnover of around Tk 140 crore.
The company manufactures cartons and packaging products mainly for Bangladesh's readymade garment industry, with a production capacity of around 35,000 cartons a day.
Thanbee Print World Limited, also established in 2008, has a paid-up capital of Tk 45 crore and annual turnover of around Tk 200 crore. It provides garment printing services with a daily production capacity of about 250,000 pieces.
Responding to a question, Mr Rahim said the group also plans to list its pharmaceutical and ceramics businesses, although those IPOs will take longer.
"Our pharmaceutical company is still a relatively new venture and needs a few more years to strengthen its financial base before going public. We also want to wait a little longer before listing our ceramics business," he said.
Founded in 1991, DBL Group has grown into one of Bangladesh's largest diversified conglomerates, with operations spanning apparel, textiles, textile printing, washing, garment accessories, packaging, ceramic tiles, pharmaceuticals, dredging, retail and digital transformation services.
The group already has one listed company -- Matin Spinning Mills PLC -- on the Dhaka Stock Exchange.
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