Stocks
BSEC Issues New Guidelines for Moving Listed Companies to ‘Z’ Category
The Bangladesh Securities and Exchange Commission (BSEC), the regulatory authority for the stock market, has issued new guidelines for transferring listed companies to the Z category for non-compliance. From July 2, any listed company that violates specific conditions can be moved to the ‘Z’ category by the stock exchange.
On Monday (May 20), BSEC released these directives, outlining several conditions under which a company may be reclassified.
According to the guidelines, if a company fails to declare dividends for two consecutive years from the date of the last dividend declaration or from the date of listing on the stock exchange, it will be moved to the Z category. Additionally, failure to hold the annual general meeting (AGM) within the stipulated time as per law will result in the same action.
However, if an AGM is not held due to a court order or legal proceedings, this rule will not apply for up to two years, considering the extraordinary circumstances.
The guidelines also state that a company will be moved to the Z category if it ceases production for a continuous period of at least six months, except for periods allocated for restructuring or BMRE (Balancing, Modernization, Rehabilitation, and Expansion).
Furthermore, if the accumulated losses of a listed company exceed its paid-up capital, it will be transferred to the Z category.
Another condition includes failure to distribute at least 80% of the declared or approved dividends within the specified timeframe, leading to reclassification to the Z category by the stock exchange.
Trading of Z category shares will be settled on a T+3 basis.
These measures aim to ensure stricter compliance and maintain the integrity of the stock market.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
