The resumption of share trading for the scam-affected non-bank financial institution (NBFI) People’s Leasing and Financial Services is scheduled for March 10, as announced by the Dhaka Stock Exchange (DSE). The DSE had suspended trading of the NBFI’s shares in July 2019 to safeguard investor interests during the initiation of liquidation proceedings.
In a disclosure on Thursday (7 March), the DSE confirmed that share trading for People’s Leasing would recommence on March 10, placing it under the Z category. Currently priced at Tk3 per share at the DSE, People’s Leasing has undergone significant changes, including a proposed name change to Sonar Bangla Lease Finance in December last year. The reconstruction board aimed to shed the negative image associated with the institution as part of its revival strategy.
Despite the board’s request to the Bangladesh Securities and Exchange Commission (BSEC) to withdraw the trade suspension in tandem with the name change, the Bangladesh Bank rejected the proposal, citing ongoing legal proceedings related to the matter.
