Wata Chemicals to be re-listed with DSE
The Bangladesh Securities and Exchange Commission on Tuesday approved proposal of Alliance S & P Shariah Index Fund, an open-end mutual fund of Tk 10 crore.
The BSEC gave the approval in a regular commission meeting presided over by its chairman M Khairul Hossain, a BSEC press release said.The portion of sponsors of the fund is Tk 1 crore and rest Tk 9 crore will be collected from general investors.
The face value of each unit of the fund has been fixed at Tk 10 and the fund will be traded on the over the counter market, the BSEC release said.
Alliance Capital Asset Management Limited is the sponsor and asset manager of the fund, while BRAC Bank is the custodian of the fund.
The BSEC on the day allowed Rupali Life Insurance First Mutual Fund to convert it into an open-end fund from close-end.
The commission on the day also decided to issue no objection letter to the Dhaka Stock Exchange for re-listing Wata Chemicals Limited as the company is holding annual general meeting and issuing dividend to its shareholders regularly, the BSEC release said.
The capital market regulator on the day fined Ananta Properties Limited Tk 1 lakh as it violated the securities related laws in its application for raising capital, it said.
The commission also fined ACNABIN Chartered Accountants, auditor of Ananta Properties Limited, Tk 1 lakh as it violated section 18 of Securities and Exchange Commission Ordinance in giving qualified opinion, it said.
The BSEC on Tuesday issued letter of intent to Peniusula Asset Management Company as asset management company.
-With New Age input
