Modus operandi of Jamuna, Meghna share trading
Thursday, 3 January 2008
FE Report
Investors will be allowed to place an order for maximum of 500 shares and minimum of 100 shares for each order during the first seven days of trading of Jamuna Oil and Meghna Petroleum, which will enter the market through Direct Listing Regulations within a few days.
The ceiling was set in the modus operandi of the two companies share trading prepared by the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange and ICB Securities Trading Company.
No investors will be allowed to sell the shares of the companies in the first two days.
The DSE will formally announce the modus operandi and debut trading date of the issues today (Thursday) in a press conference.
Under the proposed modus operandi, trading of Jamuna Oil will be held in spot market upto 12-00 noon for the first two working days.
"First 10 minutes on the first trading day will be considered as price building period and thereafter, from 11th minute, ICB Securities Trading Ltd, the government appointed issue manager of the Jamuna and Meghna's share offloading, will begin selling the shares of the company at the highest offered rate," the proposed criteria said.
It said trading of Meghna Petroleum will begin in the spot market after two days' trading of Jamuna Oil.
After two days' spot trading, trading of Meghna Petroleum will remain suspended for next one session.
The first two days' trading of the company with circuit breaker (CB) and circuit filter (CF) in the spot market will not be included in the index.
The CB and CF on both the companies trading will, however, remain open during the first seven trading days, including the spot trading.
Both the companies will be included in the public, odd and block markets with normal trading hours after two day's spot trading.
Jamuna Oil and Meghna Petroleum will float shares worth Tk 135 million and Tk 120 million respectively.
Investors will be allowed to place an order for maximum of 500 shares and minimum of 100 shares for each order during the first seven days of trading of Jamuna Oil and Meghna Petroleum, which will enter the market through Direct Listing Regulations within a few days.
The ceiling was set in the modus operandi of the two companies share trading prepared by the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange and ICB Securities Trading Company.
No investors will be allowed to sell the shares of the companies in the first two days.
The DSE will formally announce the modus operandi and debut trading date of the issues today (Thursday) in a press conference.
Under the proposed modus operandi, trading of Jamuna Oil will be held in spot market upto 12-00 noon for the first two working days.
"First 10 minutes on the first trading day will be considered as price building period and thereafter, from 11th minute, ICB Securities Trading Ltd, the government appointed issue manager of the Jamuna and Meghna's share offloading, will begin selling the shares of the company at the highest offered rate," the proposed criteria said.
It said trading of Meghna Petroleum will begin in the spot market after two days' trading of Jamuna Oil.
After two days' spot trading, trading of Meghna Petroleum will remain suspended for next one session.
The first two days' trading of the company with circuit breaker (CB) and circuit filter (CF) in the spot market will not be included in the index.
The CB and CF on both the companies trading will, however, remain open during the first seven trading days, including the spot trading.
Both the companies will be included in the public, odd and block markets with normal trading hours after two day's spot trading.
Jamuna Oil and Meghna Petroleum will float shares worth Tk 135 million and Tk 120 million respectively.