Thursday, February 29, 2024

ADB offers $215m for stockmarket reforms

Lender attaches 26 conditions to credit The government will have to form a special tribunal to deal with capital market related cases, in line with the conditions the Asian Development Bank has attached to a $215 million credit offer for Bangladesh. The government will also have to limit banks’ exposure to the capital market. The ... Read more

15 new securities enter stockmarket

Fifteen new securities found their way into the stockmarket this year, up from 13 last year, although the market showed clear signs of volatility in 2011 with twin price debacles. Eight equity securities, six mutual funds or investment securities and a convertible bond came to the stockmarket, according to data from Dhaka Stock Exchange. The ... Read more

Banks’ move fails to lift stocks

Key index of Dhaka bourse plunges 180 points No efforts from the regulator and the private sector proved effective to pro up the stumbling stockmarket, which yesterday slipped again by more than 3 percent. Owners of commercial banks, under their platform Bangladesh Association of Banks (BAB), decided on Sunday to launch a Tk 5,000 crore ... Read more

Submarine Cable Company submits IPO prospectus

Bangladesh Submarine Cable Company has submitted its initial public offering (IPO) prospectus to the stockmarket regulator, revising its previous listing plan, officials said. Earlier the telecom service provider planned listing through a direct listing method, but now it opts for a fixed price system. Under the revised plan, the company will float 3.10 crore ordinary ... Read more

New fund to prop up troubled stockmarket

The private sector has stepped in to rescue the ailing stockmarket with a ‘market stabilisation fund’ that also aims to give a new lease of life to retail investors who incurred losses. AK Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), yesterday announced a concept paper on the fund after ... Read more

Stock turnover hits six-month high

Stocks gained for a fourth day with a high turnover as investors went for fresh buying of shares hopping that the market will gain gradually despite a 30-hour countrywide shutdown. The turnover on the premier bourse rose to Tk 1,646 crore, a six-month high. That was a 22.1 percent rise from the previous day’s Tk ... Read more

Bangladesh Fund floated

The much-talked-about ‘Bangladesh Fund’ entered the stockmarket formally on Thursday by purchasing shares of the state-run Titas Gas. The Securities and Exchange Commission (SEC), a day ago, approved the registration of Tk 5,000 crore fund

Further probe needed before action: Muhith

He gives no timeline for fresh probe into share scam The government on Saturday made public the investigation report on January’s stock market debacle suggesting further investigation before bringing charges against any individuals or organisations but gave no timeline for a fresh probe. The finance minister, Abul Maal Abdul Muhith, at a briefing on Saturday ... Read more

Banking Division offers recipe for stockmarket

The Banking Division of the finance ministry has recommended 11 steps to the government as measures to curb stockmarket manipulation. The recommendations were based on a review of a report submitted by a stockmarket probe committee. According to the Banking Division, a law should be in place to regulate the issue of preference

Share splitting used as a tool to inflate prices

Stockmarket Probe Report Share splitting used as a tool to inflate prices Split of shares used as a tool to sweep up small investors’ money had been a major reason behind the massive price inflation on the stockmarket, said the government probe committee on the recent market debacle. Market capitalisation of the companies, which split ... Read more

Stocks pass chaotic week

Govt sits with merchant bankers today The government sits today with merchant bankers to find ways to bring stability to the troubled stockmarket. The officials of the market regulator will also be present during the talks. The last week went through chaos, as the general index of the prime bourse plunged 9.21 percent amid credit ... Read more