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71 companies barred from automated trading |
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News |
June 26, 2000
Dhaka, (UNB) – Some 71 listed companies, including seven banks, will be barred from doing automated trading of shares as a penalty for defaulting on dividends and annual general meetings.
Dhaka Stock Exchange has decided to drop those entities from the netting-settlement system from July 2, a DSE announcement said yesterday (Sunday).
The bourse authority took the decision following directives of the capital market regulator-Securities and Exchange Commission (SEC)--to expel the companies from the modern system of trading in stocks, introduced last year.
“These companies failed either to hold AGM last year or to declare dividends in last four years,” said the announcement.
They will now have to use `spot market’ for trading in their shares and settle those through DSE clearing house.
A total of 148 companies will now remain in the netting-settlement system.
Among the defaulters are City Bank Ltd., Pubali Bank Ltd., Rupali Bank Ltd., UCBL Bank Ltd., Al Baraka Bank Ltd., Eastern Bank, Olympic Inds. Bengal Steel, Bd, Autocars, Renwick and Jajainswr, Metalex Corporation, BEMCO, Wonderland Toys, AB Biscuit, Tripti Ind., EL Camellia Yusuf Flour, Dhaka Vegetable, Zeal Bangla Sugar, Rupon Oil, Tulip Dairy, Bd. Plantation, Shaympur Sugar, National Oxygen, Islam Jute, Northern Jute, Sonali Aansh, Ahed Jute, Saleh Carpet Mills, GMG Ind., Quasem Textile, STM (ORD).
The rest are Eagle Star, Dulamia Cotton, Arbee Textile, Dynamic Textile, Bd. Dyeing and Finishing, Delta Millers, Apex Weaving and Finishing, Dandy Dyeing. Bd, Zipper, Streepur Textile, Monno Fabrics, HR Textile, GEM Knitwear, Bangla Process, Petro Synthetic, Theraputics Ltd., Pharma Aids, Kohinoor Chemicals, Rahman Chemicals, BCIL, Orion Infusion, Perfume Chemical, JH Chemicals, Padma Printers, Sonali Paper, Eagle Box and Cartoon, Monospool Paper, Azadi Printers, Maq Paper, Maq Enterprises, Bangladesh Shipping, Phoenix Leather, Savar Refractories, Highspeed Ship, Texpick Industries, Bd. Luggage, Mark Bd. Shilpa, Rose Heaven Ball Pen Ind.
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