Shahjibazar allowed to be traded in normal mkt

The securities regulator has exempted the share trading of Shahjibazar Power Company Limited (SPCL) from spot market to resume the company's trading in normal market, officials said.
The Bangladesh Securities and Exchange Commission (BSEC) Tuesday took the decision at a commission meeting held at the BSEC office.
The securities regulator, however, has not withdrawn its previous decision in considering the SPCL as non-marginable securities.
As a result, the lenders will not be able to provide margin loans to their clients for purchasing the securities of SPCL in normal market.
The BSEC sent the SPCL to spot market on November 18 last to contain its abnormal price hike.
The SPCL, which went public with an offer price of Tk 25, made its debut trading on July 15 last and the company's market price rose 1255.20 per cent to close at Tk 338.80 as on November 18, 2014.
The securities regulator earlier formed probe body twice to look into the continuous rise in share price of the SPCL.
Intensive monitoring of the securities regulator, however, failed to contain the price hike of the SPCL.
The BSEC also slapped fines worth Tk 5.5 million on the SPCL's five directors and managing director on charge of providing fabricated financial statements.
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