DSE seeks SEC clearance for Phoenix Finance listing
Wednesday, 19 September 2007
FE Report
The listing sub-committee of the Dhaka Stock Exchange (DSE) Monday referred the matter relating to the listing of Phoenix Finance and Investments Ltd to the Securities and Exchange Commission (SEC) to avoid legal complexities.
As per law, the company's listing may face legal restriction as it has passed 75 days after the closure of subscription.
"We have decided to refer the listing of the company to the SEC for clearance and we will definitely comply with the regulator's decision later on," a DSE source told the FE.
The subscription of the Phoenix Finance and Investment took place in late-June to raise Tk 125 million.
The non-banking financial institution (NBFI) floated 1.250 million shares with face value worth Tk 100 each from the stock market. The subscription of the issue ended July 7 last.
The 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.
The listing sub-committee of the Dhaka Stock Exchange (DSE) Monday referred the matter relating to the listing of Phoenix Finance and Investments Ltd to the Securities and Exchange Commission (SEC) to avoid legal complexities.
As per law, the company's listing may face legal restriction as it has passed 75 days after the closure of subscription.
"We have decided to refer the listing of the company to the SEC for clearance and we will definitely comply with the regulator's decision later on," a DSE source told the FE.
The subscription of the Phoenix Finance and Investment took place in late-June to raise Tk 125 million.
The non-banking financial institution (NBFI) floated 1.250 million shares with face value worth Tk 100 each from the stock market. The subscription of the issue ended July 7 last.
The 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.