FE Report
Trading of four companies of the OTC (over-the-counter) market will resume very soon on the exchange's main board as the premier bourse has approved their re-listing proposals.
The companies which will be re-listed are Tamijuddin Textile Mills, Bangladesh Monospool Paper Manufacturing Company, Paper Processing and Packaging and Monno Fabrics.
The DSE officials said a three-year lock-in period will be imposed on the shares of the sponsor-directors of these companies from the date of resuming trading.
"Our board has approved the companies' proposal of re-listing with the main board. The companies' share trading will resume very soon on completion of some relevant processes," said a senior official of the premier bourse DSE.
Previously, the companies were shifted to the OTC market from the main board due to different reasons including their failure to hold AGM (annual general meeting) and disburse dividends.
On February 3 last, the securities regulator allowed the companies' re-listing considering their improvement in business operations and some measures taken to comply with the securities rules.
To facilitate the companies' re-listing, the securities regulator has also exempted them from some conditions of the exchange's listing regulations.
After the re-listing of four companies, the number of the companies in the OTC market will stand at 61.
The securities regulator launched the OTC market on September 06, 2009 in an effort to facilitate trading of de-listed companies.
Later, many companies having poor business operations were shifted to the OTC market.
Some OTC companies earlier were re-listed with the exchange's main board as they brought improvements in operations.
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