In a recent development, ten companies have undergone a change in their categories, transitioning to the ‘Z’ category in the Dhaka Stock Exchange (DSE). The information comes from official sources from DSE.
The companies affected by this reclassification include Alltex Industries, Aramit Cement, Aziz Pipes, Delta Spinning, FAS Finance and Investment Limited, GBB Power Limited, Intech Limited, International Leasing, Keya Cosmetics, Khulna Printing, National Tea, Premier Leasing, Regent Textile, Ring Shine Textile, Safko Spinning, Standard Ceramics, Dacca Dyeing, Union Capital, Uttara Finance and Investment Limited, Yeakin Polymer, and Zahintex Industries Limited.
Effective from today (18th February), trading for these companies in the ‘Z’ category has commenced.
Sources reveal that these companies have been transferred to the ‘Z’ category due to their inability to hold the annual general meeting (AGM) within the stipulated time, remaining closed for more than six months, and having higher liabilities than assets.
Before this update, there were 27 companies in the ‘Z’ category at the DSE. With the addition of 22 more companies, the total number of companies in the ‘Z’ category has now reached 49.
It is noteworthy that companies failing to hold the AGM within the specified time, remaining closed for more than six months, or having higher liabilities than assets are moved to the ‘Z’ category after undergoing the necessary scrutiny and reevaluation.
