BSEC: Bangladesh Securities and Exchange Commission has re-joined the minimum price of shares of 169 companies whose floor prices have been withdrawn.
On Wednesday (March 1), BSEC Chairman Professor Shibli Rubayat-Ul-Islam penned the order in this regard.
It is said in the order that the floor price order of 169 companies was revoked last December 21.
According to BSEC’s latest decision, the new floor price of the companies will be the average of the closing prices from February 26 to March 1. From March 2nd the prices of securities above this can rise at a normal rate. Hence, the share price of these companies cannot fall below the floor price.
According to the new order of the regulatory body, the other conditions of the order imposed on July 28 last year for the share price of the companies shall remain in force.
Prior, BSEC had canceled the floor prices of 169 companies on December 21 last year. However, it was stated as a condition for the reduction of the share price that the maximum share price can decrease by 1 percent in a day. Despite the order of BSEC, market conditions are not good and share prices of companies are falling, causing instability in the capital market. In such a condition, the regulatory body has determined the floor price of 169 companies once again.
