Share trading of Pharma Aids resumes today at the Dhaka Stock Exchange after remaining suspended for three-months.
The DSE had suspended on February 5 the trading of the company shares as it barred DSE team in carrying out regular inspection the company’s factory.
“For the sake of investors’ greater interest, the DSE board has decided to allow stock trading of the company from today,” said an official.
The company’s restriction to enter into the factory is a violation of listing regulation, he said, adding that a show-cause notice has also been served upon the company to clarify their position in this regard.
He said the next course of action will be taken against the company after consulting with the Bangladesh Securities and Exchange Commission. Before suspension, Pharma Aids closed at Tk181.
In another decision taken by the board on Thursday that Wata Chemicals would be transferred to the main board from the over the counter market (OTC), a separate trading floor for trading of junk shares, after more than four years.
“As the company complied with all the regulations required for beginning trade in the main board, the bourse has decided to re-enlist it,” said another official.
Earlier, the company appealed for re-enlistment after it became regularised in holding annual general meetings and paying dividends to its shareholders.
In 2009, the Dhaka and Chittagong stock exchanges had delisted Wata Chemicals for non-compliance with the listing regulations, including non-issuance of dividends for shareholders of the company since 2003.
The BSEC on August 9 last year, issued no objection letter to the company for re-enlistment with the stock exchanges and asked to consider Wata’s application as per the listing regulations.