2024-03-03 17:09:00
Finally, the floor price (minimum limit) imposed on the shares of Grameenphone Limited, a multinational company listed in the telecommunication sector in the capital market, has been raised.
As per the instructions of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC), the shares of the company are trading according to the maximum and minimum limits of the circuit breaker from Sunday (March 3).
The company’s shares were last traded at Tk 261.60 till 11:40 am on this day.
Earlier this information was reported on the website of Dhaka and Chittagong Stock Exchange (DSE-CSE) last Thursday (February 29).
As a result, British American Tobacco Bangladesh Company Limited and Robi Aziata’s share floor price was awaited after the record date.
According to information, the floor price of Grameenphone Limited shares will be withdrawn after the record date, BSEC said in a directive on February 6.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 next Sunday. As a result, shares of Grameenphone Limited are trading at the highest and lowest 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, the floor price of 35 companies was lifted on January 18, except for mutual funds and other companies.
The companies that have not withdrawn the floor price are Beximco, BSRM, Islami Bank, KPCL, Meghna Petroleum and Robi.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 decreasing 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.