DSE seeks clarification on some issues from Meghna, Jamuna
Friday, 2 November 2007
FE Report
The Dhaka Stock Exchange (DSE) Wednesday sought clarifications on some issues from state-owned Jamuna and Meghna oil companies ahead of their listing on the bourses.
In another move the DSE at a meeting approved the listing of the City General Insurance and sent the proposal to the DSE board recommending its formal trading as soon as possible.
DSE sources said the participants in the meeting urged the authorities of Jamuna and Meghna oil companies to undertake scrutiny of their financial statements ahead of the listing.
The DSE source said the formal trading of both Jamuna and Meghna might be delayed for seeking clarifications by the DSE.
The formal trading of both the companies was scheduled to start from the middle of November next, sources said.
The DSE source said both Jamuna and Meghna oil companies showed records of abnormal profit in their financial statements, submitted to the DSE. This has prompted the DSE to seek queries from the companies concerned within 15 days, sources said.
Earlier, state-owned Investment Corporation of Bangladesh (ICB) submitted information document (ID) to the DSE recently seeking measures for formal trading of the both companies in the stock markets.
Both Jamuna and Meghna will each float 30 per cent of their shares worth Tk 135 million and Tk 120 million respectively.
Meanwhile, City General Insurance has floated shares worth Tk 90.00 million with face value at Tk 100.00 each. The subscription period of IPOs of the City General Insurance Company started August 19 and ended September 1, 2007 last both for local and non-resident Bangladeshis (NRBs).
DSE sources said the final date of formal trading of the City General Insurance will be decided by the DSE board soon.
The Dhaka Stock Exchange (DSE) Wednesday sought clarifications on some issues from state-owned Jamuna and Meghna oil companies ahead of their listing on the bourses.
In another move the DSE at a meeting approved the listing of the City General Insurance and sent the proposal to the DSE board recommending its formal trading as soon as possible.
DSE sources said the participants in the meeting urged the authorities of Jamuna and Meghna oil companies to undertake scrutiny of their financial statements ahead of the listing.
The DSE source said the formal trading of both Jamuna and Meghna might be delayed for seeking clarifications by the DSE.
The formal trading of both the companies was scheduled to start from the middle of November next, sources said.
The DSE source said both Jamuna and Meghna oil companies showed records of abnormal profit in their financial statements, submitted to the DSE. This has prompted the DSE to seek queries from the companies concerned within 15 days, sources said.
Earlier, state-owned Investment Corporation of Bangladesh (ICB) submitted information document (ID) to the DSE recently seeking measures for formal trading of the both companies in the stock markets.
Both Jamuna and Meghna will each float 30 per cent of their shares worth Tk 135 million and Tk 120 million respectively.
Meanwhile, City General Insurance has floated shares worth Tk 90.00 million with face value at Tk 100.00 each. The subscription period of IPOs of the City General Insurance Company started August 19 and ended September 1, 2007 last both for local and non-resident Bangladeshis (NRBs).
DSE sources said the final date of formal trading of the City General Insurance will be decided by the DSE board soon.