Physical shares turn bane for investors of Rajshahi
Wednesday, 5 August 2009
Our Correspondent
RAJSHAHI, Aug 4: Small investors of Rajshahi are incurring losses buying paper shares as they fail to deposit those for selling even after maturity because of alleged negligence of brokarge houses concerned, sourses said.
Investors alleged that they purchased non-dematerialised shares on June 16 last but they are yet to deposit in their respective brokerage houses. But by this time share prices declined, bringing huge losses for them.
They did not make prfits despite prices of bought paper shares which rose up to their expectations due to negligence of state-owned ICB Securities Trading Company Limited (ISTCL)
ISTCL branch manager Abdul Motalleb said , "Normally, it takes eight working days to reach paper shares from the capital Dhaka. The purcashed shares on Jun 16 are yet to rach ISTCL even after July 12."
"I failed to sell the shares even in the last 26 days because the certificates have not reached to the concerned branches yet," said one of the frustrated investors.
RAJSHAHI, Aug 4: Small investors of Rajshahi are incurring losses buying paper shares as they fail to deposit those for selling even after maturity because of alleged negligence of brokarge houses concerned, sourses said.
Investors alleged that they purchased non-dematerialised shares on June 16 last but they are yet to deposit in their respective brokerage houses. But by this time share prices declined, bringing huge losses for them.
They did not make prfits despite prices of bought paper shares which rose up to their expectations due to negligence of state-owned ICB Securities Trading Company Limited (ISTCL)
ISTCL branch manager Abdul Motalleb said , "Normally, it takes eight working days to reach paper shares from the capital Dhaka. The purcashed shares on Jun 16 are yet to rach ISTCL even after July 12."
"I failed to sell the shares even in the last 26 days because the certificates have not reached to the concerned branches yet," said one of the frustrated investors.