Bangladesh's IPO market is going through its longest drought in decades, with no new company going public for more than 18 months. 

Despite clear instructions from Chief Adviser Muhammad Yunus to revive the market by listing state-owned and multinational firms, progress has stalled.

Here's what's behind the freeze:

Despite reforms on paper and an economy showing signs of recovery, Bangladesh's capital market remains stuck in limbo, with confidence low, listings stalled, and investors waiting for a real breakthrough.

IPO / capital market