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Bangladesh Securities and Exchange Commission (BSEC) has withdrawn the floor price of 169 listed companies to make the country's stock market vibrant following its continuous downtrend in recent days.
Stock market regulator BSEC took this decision at a meeting on Wednesday.
Later, a gazette notification was published signed by BSEC Chairman Professor Shibli Rubayat Ul Islam including the 169 companies' name.
It notification said, whereas in the interest of the investors and for the development of the securities market, it is expedient to regulate the share/security price movement in trading of the stock exchanges(s);
Now, therefore, in the exercise of the powers conferred by Section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited the following, namely:
(a) Floor price as imposed vide the Commission’s Order No. BSEC/CMRRCD/2001-07/39 dated 28 July 2022 shall not be applicable for the attached 169 companies/securities;
(b) Downward price change limit (circuit breaker) for the attached 169 companies/securities shall be at 1% (one per cent) - based on the reference price/previous trading day’s closing price; and
(c) Upward price change limit (circuit breaker) shall be applicable as per the Commission’s Order No. BSEC/CMRRCD/2001-07/229 dated 14 November 2019.
This order shall have immediate effect and shall remain in force until further order, it added.
Bd-pratidin English/Golam Rosul
