DSE lists Jamuna, Meghna cos for share offloading
Friday, 9 November 2007
Refayet Ullah Mirdha
The board of directors of Dhaka Stock Exchange (DSE) Thursday agreed, in principle, to list the state-owned Jamuna and Meghna Oil companies for offloading their shares for formal trading in the stock markets.
Earlier, a DSE board meeting sought clarifications on some issues from both the state-owned oil companies ahead of their listing with the bourses.
In another move, the meeting approved the formal trading of the City General Insurance Company from November 12 this year.
Talking to the FE, Chief Executive Officer (CEO) of the DSE, Salahuddin Ahmed Khan said the board members agreed in the meeting for listing both Jamuna and Meghna subject to correction in their information document (ID).
"I cannot exactly say when the trading of those two companies will commence. If the companies correct their required documents earlier, the trading will also start soon," Salahuddin Ahmed Khan said.
The formal trading of both companies were scheduled to take place from mid November next or the third quarter of the month, sources said.
The state-owned Investment Corporation of Bangladesh (ICB) submitted information document (ID) to the DSE recently to take measures for formal trading of the both companies in the stock markets.
Both Jamuna and Meghna have offloaded 30 per cent of their total paid up capital. Jamuna will offload shares worth Tk 135 million and Meghna Tk 120 million respectively.
Meanwhile, City General Insurance has floated shares worth Tk 90.00 million with face value worth Tk 100.00 each.
The subscription period of IPOs of the City General Insurance Company started August 19 and ended September 1, 2007 both for local and non-resident Bangladeshis (NRBs).
The board of directors of Dhaka Stock Exchange (DSE) Thursday agreed, in principle, to list the state-owned Jamuna and Meghna Oil companies for offloading their shares for formal trading in the stock markets.
Earlier, a DSE board meeting sought clarifications on some issues from both the state-owned oil companies ahead of their listing with the bourses.
In another move, the meeting approved the formal trading of the City General Insurance Company from November 12 this year.
Talking to the FE, Chief Executive Officer (CEO) of the DSE, Salahuddin Ahmed Khan said the board members agreed in the meeting for listing both Jamuna and Meghna subject to correction in their information document (ID).
"I cannot exactly say when the trading of those two companies will commence. If the companies correct their required documents earlier, the trading will also start soon," Salahuddin Ahmed Khan said.
The formal trading of both companies were scheduled to take place from mid November next or the third quarter of the month, sources said.
The state-owned Investment Corporation of Bangladesh (ICB) submitted information document (ID) to the DSE recently to take measures for formal trading of the both companies in the stock markets.
Both Jamuna and Meghna have offloaded 30 per cent of their total paid up capital. Jamuna will offload shares worth Tk 135 million and Meghna Tk 120 million respectively.
Meanwhile, City General Insurance has floated shares worth Tk 90.00 million with face value worth Tk 100.00 each.
The subscription period of IPOs of the City General Insurance Company started August 19 and ended September 1, 2007 both for local and non-resident Bangladeshis (NRBs).