UCB share trading resumes, tops the turnover list
FE Report | Tuesday, 22 July 2008
Share trading of the United Commercial Bank (UCB) Limited resumed Monday after a gap of nearly six-week in the spot market of the both bourses.
The company topped the turnover list on Dhaka Stock Exchange with Tk 488.12 million traded whopped by 18.13 per cent rise in its price.
Stock prices of the bank closed at Tk 6628.25 per share on the news that it will hold its pending annual general meetings (AGMs).
The opening price of the issue on the DSE was Tk 7800.00 per share and rose as high as Tk 8100.00 per share.
Scrutinizing the documents related to the judgment about pending AGMs and considering the investors' interest, the Securities and Exchange Commission (SEC) allowed to resume the share trading of the bank, said a source in the Dhaka Stock Exchange (DSE).
Moreover, the Bangladesh Bank has asked to complete all the bank's pending AGMs by coming October, he added.
Back in June 12 this year, the DSE and Chitagong Stock Exchange (CSE) had suspended share trading of bank due to price volatility in its share prices centering judgment regarding pending the bank's annual general meetings (AGMs).
Earlier, the bank has decided to hold the pending 20th, 21st , 22nd and 23rd AGMs for the accounting year 2002, 2003, 2004 and 2005 on August 17.
The fresh record date for the years 2002, 2003, 2004 and 2005 will be June 30 instead of September 25, 2005 and January 16, 2008 as announced earlier.
The board of directors of the bank has earlier recommended every nine bonus shares against 10 ordinary shares for the years 2002, 2003 and 2004, and five bonus shares for every 10 ordinary shares for 2005.
Eligibility for 50 per cent bonus shares for 2005 will be computed after giving effect of 90 per cent bonus shares declared for the year 2002, 2003 and 2004, according to the DSE website.
The company topped the turnover list on Dhaka Stock Exchange with Tk 488.12 million traded whopped by 18.13 per cent rise in its price.
Stock prices of the bank closed at Tk 6628.25 per share on the news that it will hold its pending annual general meetings (AGMs).
The opening price of the issue on the DSE was Tk 7800.00 per share and rose as high as Tk 8100.00 per share.
Scrutinizing the documents related to the judgment about pending AGMs and considering the investors' interest, the Securities and Exchange Commission (SEC) allowed to resume the share trading of the bank, said a source in the Dhaka Stock Exchange (DSE).
Moreover, the Bangladesh Bank has asked to complete all the bank's pending AGMs by coming October, he added.
Back in June 12 this year, the DSE and Chitagong Stock Exchange (CSE) had suspended share trading of bank due to price volatility in its share prices centering judgment regarding pending the bank's annual general meetings (AGMs).
Earlier, the bank has decided to hold the pending 20th, 21st , 22nd and 23rd AGMs for the accounting year 2002, 2003, 2004 and 2005 on August 17.
The fresh record date for the years 2002, 2003, 2004 and 2005 will be June 30 instead of September 25, 2005 and January 16, 2008 as announced earlier.
The board of directors of the bank has earlier recommended every nine bonus shares against 10 ordinary shares for the years 2002, 2003 and 2004, and five bonus shares for every 10 ordinary shares for 2005.
Eligibility for 50 per cent bonus shares for 2005 will be computed after giving effect of 90 per cent bonus shares declared for the year 2002, 2003 and 2004, according to the DSE website.