BSEC was on deeper monitoring over the week so that no group creates manipulative sell pressure in the market under peril due to the removal of the floor after nearly 18 months.
Most listed spinning and textile mills in Bangladesh have seen a rise in Q3 profits as rising yarn prices gave a boost to apparel exports. However, business .
Gamblers are going to play with the company, he said on condition of anonymity. On the other hand, the market regulators recent steps to enable a rebound of their performance also instigated me, the investor added. The Bangladesh Securities and Exchange Commission (BSEC) has taken the initiative to restructure companies whose performance is below par.
Till date, the BSEC has replaced boards of directors of six listed junk companies Emerald Oil, C&A Textiles, Ring Shine Textiles, United Airways, Familytex (BD) and Alhaj Textile Mills.
Market analysts believe that investors are misinterpreting the regulators steps, which could blow up their portfolios.
BSEC dissolves 6th errant listed company’s board
Star Business Report
Star Business Report
The Bangladesh Securities and Exchange Commission (BSEC) yesterday dissolved the board of Emerald Oil and formed a new one in a bid to improve its performance.
The listed edible oil producer is the sixth company whose boards were created anew as per a decision taken by the regulator earlier.
The previous five companies were C&A Textiles, Ring Shine Textiles, United Airways, Familytex (BD) and Alhaj Textile Mills.
The BSEC last year decided to bring about the change if any company remained in losses for at least two years, or if company sponsors fail to hold at least 30 per cent of shares jointly.