UCBL trading starts at both bourses from June 13
Wednesday, 9 June 2010
FE Report
Trading of the United Commercial Bank Limited (UCBL) will start at the country's both bourses from June 13 (Sunday), ending its two years of trading at the over-the-counter (OTC) market.
The Securities and Exchange Commission (SEC) took the decision of shifting UCBL to bourses from the OTC market after the bank's pending annual general meetings (AGM) were held on June 7.
The SEC said for the interest of the investors and the capital market normal trading of UCBL would start from June 13. General shareholders own 52 per cent shares of the bank.
UCBL's shares were last traded in the bourses on August 6, 2008. Then the SEC sent the bank to the OTC market on September 6, 2009, due to a pending case filed with the Supreme Court (SC). On April 7, 2010 the SC cleared the obstacles of holding AGMs by delivering a verdict on the writ petition.
Trading of the United Commercial Bank Limited (UCBL) will start at the country's both bourses from June 13 (Sunday), ending its two years of trading at the over-the-counter (OTC) market.
The Securities and Exchange Commission (SEC) took the decision of shifting UCBL to bourses from the OTC market after the bank's pending annual general meetings (AGM) were held on June 7.
The SEC said for the interest of the investors and the capital market normal trading of UCBL would start from June 13. General shareholders own 52 per cent shares of the bank.
UCBL's shares were last traded in the bourses on August 6, 2008. Then the SEC sent the bank to the OTC market on September 6, 2009, due to a pending case filed with the Supreme Court (SC). On April 7, 2010 the SC cleared the obstacles of holding AGMs by delivering a verdict on the writ petition.