BSEC upholds floor price for 35 companies

 
There will be no floor price restriction on listed securities from Sunday (21 January), except for 35 large cap ones.
In an order on Thursday (18 January), the Bangladesh Securities and Exchange Commission (BSEC) ordered immediate withdrawal of the floor price restriction.

Floor price will remain for the shares of Anwar Galvanizing,  Baraka Power, British American Tobacco, Beximco Ltd, Bangladesh Submarine Cable Company, BSRM Ltd, BSRM Steels, Confidence Cement, DBH Finance, Doreen Power, Envoy Textile, Grameenphone, HR Textile, IDLC Finance, Index Agro, Islami Bank, KDS Accessories, Khulna Power, Kattali Textile, Malek Spinning, Meghna Petroleum,  National Housing Finance, National Polymer, Orion Pharma, Padma Oil, Renata, Robi Axiata, Saiham Cotton, Shasha Denim, Sonali Paper, Sonar Bangla Insurance, Shinepukur Ceramics, Shahjibazar Power, Summit Power and United Power.

Earlier in the first week of January, the Bangladesh Securities and Exchange Commission (BSEC) has assured the stock market intermediaries that the regulator will withdraw the floor price restriction gradually after the national election which is scheduled to be on Sunday.

The floor price is the lowest price at which a stock can be traded.

The floor price mechanism that was imposed on changing share price on 28 July 2022 was playing a crucial role to make a haggard market, participants at a meeting had said.

Speaking to journalists earlier, Saiful Islam, president of DBA, said the turnover of the stock exchanges drastically declined due to the floor price restriction. "If the share price is stuck at one place, then no investor will come to this market" he commented.