Business Report :
Decision will be effective from today: BSEC
Bangladesh Securities and Exchange Commission (BSEC) has removed the floor price for Anwar Galvanizing, Orion Pharmaceuticals and Renata as part of its move to bring back vibrancy to the market.
The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday said the decision will be effective from today.
The floor for British American Tobacco Bangladesh, Grameenphone and Robi Axiata will be lifted from their next record date, the day on which a company finalises the list of shareholders eligible for its forthcoming dividend distribution.
The commission set the floor price in July 2022 to prevent a free-fall of shares amid uncertainties caused by the Covid-19 pandemic and the Russia-Ukraine War.
On January 18 this year, the commission scrapped the floor price for most of the stocks.
On the other hand, Beximco Limited, BSRM Limited, Islami Bank, Khulna Power Company, Meghna Petroleum and Shahjibazar Power will remain under floor price restriction until further notice.
On 21 January, the BSEC removed the floor from all but 35 stocks and in less than a week, 23 more stocks were freed from trading.
Having free fall initially, most of the listed stocks bounced back as their declined prices attracted buyers.