2024-03-04 13:16:23
The floor price (minimum limit) imposed on the shares of the British American Tobacco Bangladesh Company (BATBC) Ltd., a multinational company listed in the food and allied sector in the capital market, has been raised. The shares of the company are trading according to the maximum and minimum limits of the circuit breaker from Monday (March 4) as per the instructions of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC).
This information was reported on the website of Dhaka and Chittagong Stock Exchange (DSE-CSE) on Monday (March 4). As a result, after the record date, only Robi Aziata’s shares were waiting for the floor price to be withdrawn.
Before this, it was announced on the website of DSE and CSE on February 29 that the floor price imposed on the shares of Grameenphone Limited would be lifted. And since Sunday (March 3), the company’s shares have started trading according to the maximum and minimum limits of the circuit breaker.
Like Grameenphone, the floor price of BATBC shares will be withdrawn after the record date, BSEC said in a directive on February 6. According to that directive, Thursday (February 28) was the company’s record date. As such, the floor price of the company’s shares will not be maintained from Monday (March 4). As a result, shares of BATBC are trading at the high and low limits of circuit breakers, just like other common companies.
Earlier, BSEC lifted the floor price of 3 companies on February 6 and 23 companies on January 22. Before that, on January 18, the floor price was lifted from the shares of 35 companies and other companies except mutual funds.
The companies that have not withdrawn the floor price are Beximco, BSRM, Islami Bank, KPCL, Meghna Petroleum and Robi.
The regulatory agency BSEC has imposed a floor price on shares in several rounds in the last four years without being able to stop the continuous fall in the stock market.
A floor price was first imposed on March 19, 2020, which was fully lifted on July 17, 2021, to prevent a sustained fall in capital markets due to the global crisis. After that, due to the impact of the Ukraine-Russia war, the company imposed a floor price on all shares in the second phase on July 28, 2022. Later, on December 21 of that year, the floor price was lifted from 167 shares and mutual funds. But, as the price is falling at the rate of one percent against one-two shares trading every day, BSEC again imposed floor price at 167 shares in the third phase on March 1, 2022.