Debut trading of Phoenix Finance on Sept 27

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FE Report
The debut trading of the Phoenix Finance and Investments Ltd (PFIL), delayed by several days, is likely to take place on the Dhaka Stock Exchange (DSE) on September 27 next following clearance from the Securities and Exchange Commission (SEC).
The listing sub-committee of the DSE Monday last referred the issue of listing of the non-banking financial institution (NBFI) to the SEC to avoid legal complexities as the company failed to apply for listing within stipulated time.
As per law, the company was to apply for listing within 75 days from the date of closure of subscription.
The PFIL floated 1.250 million shares with face value of Tk 100 each in the stock market. The subscription of the issue ended July 7 last.
"We have a board meeting either on September 24 or 25 next to list the Phoenix for trading. If the board meeting allows the listing of the Phoenix, the debut trading of the company may start from September 27 next," said Chief Executive Officer (CEO) of the DSE Salahuddin Ahmed Khan.
He said the listing of the company was delayed due to share transfer problem with the Central Depository Bangladesh Limited (CDBL).
The PFIL will be the 16th NBFI to be listed on the DSE.
The already listed NBFIs are: IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, IPDC, Union Capital, Bangladesh Finance and Investment and International Leasing.