Bangladesh Securities and Exchange Commission, BSEC has delivered both bourses, DSE and CSE seeking detailed information on the present status of companies in the OTC,over the counter market of the stock market.
The message signed by the commission’s deputy director Mohammad Ratan Mia and has been sent to the Dhaka and Chittagong stock exchanges on Thursday, October 12.
According to BSEC’s letter, the document shares of the companies listed in the OTC market should be converted into electronic shares within a month.
Investors who have lost their paper shares can be re-issued as electronic shares as per share record.
BSEC’s letter also pointed out that it has told Dhaka Stock Exchange and Chittagong Stock Exchange to provide narrative information with recommendations on the share holding positions of companies listed on the OTC.
Also the firm in the OTC market can sell or transfer shares for the purpose of restructuring the board of directors. But in this case approval of BSEC must be needed.
Hence, BSEC’s letter has given instructions to convert paper shares of SME market into electronic shares.
