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BSEC offers exit plan for poor performers
Investors now protected from complete loss in case of delisting
The Bangladesh Securities and Exchange Commission (BSEC) recently issued a directive offering companies not performing well an exit plan that would help protect small investors in case of delisting.
When a company s performance goes down, it is either traded as a junk stock in the over-the-counter market or gets delisted. In any case, the investors get next to nothing from their stocks.
United Airways is one such case as it was delisted last month by order of the market regulator.
After the delisting, general investors, considering the face value of their stocks, incurred losses of around Tk 786 crore.
Bourses see extensive profit booking
Bourses witnessed widespread profit-booking last week when the insurance stocks rose the most thanks to a regulatory move on minimum shareholding compliance.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 73.14 points, or 1.24 per cent, during the week.
Meanwhile, insurance stocks went upward riding on news that the regulator issued letters to all the companies to maintain a paid-up capital of Tk 30-40 crore.
Almost all the top gainers were from the insurance sector. For instance, Agrani Insurance rose 21.9 per cent in the week followed by Provati Insurance and Islami Insurance.
The Insurance Development and Regulatory Authority asked all insurance companies to comply with the minimum shareholding rule of 60 per cent by the sponsors in their respective companies and maintain a minimum paid-up capital of Tk 30-40 crore in a month.
United Air shareholders on the verge of losing everything
Regulator delists defunct airline for stock price volatility, weak fundamentals
Stock investors of United Airways who own 95 per cent of the shares of the defunct airline have been left high and dry after the regulator delisted the company from the main trading board of the exchanges.
In a directive on Tuesday, the Bangladesh Securities and Exchange Commission (BSEC) ordered the Dhaka and Chattogram stock exchanges to transfer the company to the over-the-counter board from the main trading board.
The bourses yesterday said they had already transferred the company to the OTC market.
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