DSE: Dhaka Stock Exchange Small and Medium Enterprises (SME) Market where High Court, HC suspends the condition of investing 3 million or (30 lakh) taka on Wednesday, 16 November. Judge Ashfakul Islam & Md Suhrawardy gave a stay order on the HC Bench, which means, for the next 3 months the condition of the Bangladesh Securities & Exchange Commission (BSEC) to invest 30 lakh taka in the SME Market will be suspended and that is effective from last 13 November. Thus, now it means investors can invest in the SME Market. This information is known from related sources.
However, today this information has been sent to BSEC, hence, HC order copies have also been sent to Joint Stock Companies and Firms of Bangladesh (RJSC), Dhaka Stock Exchange, Chittagong Stock Exchange (CSE) and Central Depository of Bangladesh (CDBL).
Before then, on 13 November, a resident of Dilkusha from Dhaka, Advocate of the Supreme Court Mostafa Kamal filed a writ (writ no: 13749) on behalf of Raju Hasan. Business News Portal published the news from Orthosongbad that headlined ‘Falling prices in SMEs, investors fear loss of capital’‘ and attached as a source in the writ petition.
After filing the writ petition, HC wants to know the reasons for the investment limit in the SME market, from the BSEC, and regarding this from today (16 November) HC suspends teh conditions of investing 30lakh taka in SME Market.
It was known that the BSEC, the capital market regulatory body, cancel the OTC market of two stock exchanges (DSE and CSE) on September 16 last year. On that day, the commission decided to delist 29 companies and transfer 41 companies to SME and ATB (Alternative Trading Board).
Later, the same last year, September 30, trading started on the SME platform of the DSE. On that day, transactions were initially launched on DSE’s SME platform with 6 companies. Currently there are 15 companies listed in SME. Out of this, the shares of 13 companies are being traded regularly.
The investment amount for the latest SME platform investment was determined on September 22 this year. In an order signed by BSEC Chairman Professor Shibli Rubayat-Ul-Islam, it is stated that to be an eligible investor in the SME Trades, there should be a minimum investment of 30 lakh takas in the stock market.
