Transfer or delist of listed stocks from OTC market begins Sunday
The Bangladesh Securities and Exchange Commission (BSEC) has decided to transfer or delist listed stocks from over the counter (OTC) market from Sunday.
The low-performing, small capital based and non-demate stocks were traded at the board.
BSEC took the decision in a commission meeting today.
Some 70 companies were listed in the board. Of them, 41 were transferred to either SME board or Alternative Trading Board. Remaining 29 companies are delisted, the BSEC said in a press release.
Most of the listed companies of the board are either non-activated or traceless so these cannot provide anything to the shareholders, said a top official of the BSEC.
"So, we decided to delist some of these," he said.
If any of these has a least possibility to return to profit, these are remains tradable in the other board, he added.