2024-08-31 06:47:30
Published: 10:58, 29 August 2024 Updated: 10:59, 29 August 2024
The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has withdrawn the minimum level or limit (floor price) of the share price of four of the remaining six companies in the capital market. The four companies are Khulna Power, BSRM, Meghna Petroleum and Shahjibazar Power. As a result, companies are trading in the capital market without floor prices from Thursday (October 29).
Earlier on Wednesday (February 14) this decision was taken in the 916th commission meeting held under the chairmanship of BSEC Chairman Khandkar Rashed Maqsood. This information was informed through a press release signed by BSEC Director and Spokesperson Farhana Farooqui.
According to the notification, floor price exists in 6 listed companies at present. In the discussion meeting, it was decided to lift the floor price of the remaining 4 companies except Bangladesh Export Import Company Limited (Beximco) and Islami Bank Bangladesh Limited. This decision will be effective immediately.
Earlier, on August 11 of this year, the former chairman of BSEC, Shibli Rubaiyat Ul Islam, decided to withdraw the floor price from Beximco, Khulna Power and Shahjibazar Power. According to that directive, the floor price of BSRM, Islami Bank and Meghna Petroleum was supposed to go up on August 14. However, after the resignation of Shibli Rubaiyat ul Islam, the commission withdrew that decision.
Meanwhile, the floor price was imposed for the first time on March 19, 2020, which was completely lifted on July 17, 2021, to prevent a continuous decline in the capital market 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 the trading of one or two shares every day, BSEC again imposed floor price on 167 shares in the third phase on March 1, 2022. After this, on January 18 again, except for 35 companies, the floor price imposed on the shares of other companies was withdrawn. Later on last January 22, BSEC lifted the floor price of 23 companies and 3 companies on February 6.
Dhaka/NT/Eva