2024-03-18 17:05:34
The floor price (minimum limit) imposed on the shares of Robi Aziata Limited, a multinational company listed in the telecom sector, is going up. As per the directives of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC), the shares of the company will trade according to the maximum and minimum limits of the circuit breaker from Tuesday (March 19).
This information was reported on the website of Dhaka and Chittagong Stock Exchange (DSE-CSE) on Monday (March 18). As a result, Ravi Aziata’s shares awaited the withdrawal of the floor price after the record date.
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 March 3, British American Tobacco Bangladesh Company (BATBC) shares have started trading according to the maximum and minimum limits of the circuit breaker.
The floor price of Grameenphone, BATBC and Robi Aziata shares will be withdrawn after the record date, BSEC said in a directive on February 6. According to that instruction Monday (March 18) was Ravi Ajia’s record date. As such, the floor price of the company’s shares will not be maintained from next Tuesday (March 19). As a result, shares of BATBC, like any other common company, will trade at the highest and lowest limits of the circuit breaker.
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The companies that have not withdrawn the floor price are Beximco, BSRM, Islami Bank, KPCL, Meghna Petroleum and Robi.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 body 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.