14 suspended listed firms resume trade Sunday
Shares of 14 listed companies, which were suspended by the stockmarket regulator, will resume trade Sunday on the spot market instead of public market.
Of the firms, 13 were suspended by the Dhaka Stock Exchange on November 23 following an instruction from the Securities and Exchange Commission, while the rest one -- Pharma Aids faced such SEC restriction from November 1.
"Considering the retail investors' interest, the commission has decided to allow the 14 securities to resume their share trade," said Anwarul Kabir Bhuiyan, SEC executive director.
However, he said share trading will resume on the spot market.
In the spot market securities are purchased or sold in cash on an immediate settlement.
Trading of the 13 securities was suspended, as prices of the stocks soared abnormally on November 22.
The other company's share trade was suspended after the stock price skyrocketed by almost 164 percent on October 31 following a suspicious dividend declaration.
The suspicion arose as the company on October 28 announced 30 percent cash and 500 percent stock (five bonus shares against one existing share) dividends for the year that ended on June 30, 2010.
Presently, Grameen-phone and Marico Bangladesh shares are being traded on the spot market.
Meanwhile, Dhaka stocks closed almost flat, unaffected by yesterday's countrywide dawn-to-dusk hartal.
The benchmark index DSE General Index (DGEN) rose only 3 points, or 0.03 percent to 8,602.
Losers beat gainers 117 to 109, with four securities remaining unchanged on the premier bourse, which traded more than 9.40 crore shares and mutual fund units on a value of Tk 1,922 crore.
Chittagong stocks also marked a slight gain yesterday. The CSE Selective Categories Index rose only 6 points, or 0.04 percent to stand at 15,664.
The Chittagong Stock Exchange traded more than 1.18 crore shares and mutual fund units on a value of Tk 223 crore.