• Wednesday, Sep 19, 2018
  • Last Update : 03:08 pm

Two companies to be delisted from DSE

  • Published at 12:56 am July 19th, 2018
  • Last updated at 12:57 am July 19th, 2018
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Photo: Mehedi Hasan/Dhaka Tribune

The decision to delist the companies was taken at a meeting of the DSE board of directors at its headquarters in Motijheel, Dhaka, on Wednesday.

The Dhaka Stock Exchange (DSE) authorities on Wednesday decided to delist two companies who have been incurring continuous losses and not been in production for over five years.

The two companies are Rahima Food Corporation Ltd and Modern Dyeing & Screen Printing Ltd. Although both companies are no longer in production, their shares were still being traded on the DSE at inflated prices.

The decision to delist the companies was taken at a meeting of the DSE board of directors at its headquarters in Motijheel, Dhaka, on Wednesday.

When contacted, DSE Managing Director KAM Majedur Rahman told the Dhaka Tribune: “These two companies have not been in production for a long time. We are investigating the matter and do not believe it is possible for them to begin production anytime soon. As a result, we have decided to delist the companies, effective from Thursday (today).”

Among the two companies, Rahima Food Corporation Ltd was listed on the DSE in 1997. However, the company has not been in production since June 13, 2013, having shut down after incurring losses.

Despite production having been shut down, the company’s shares on the stock market continued to be traded at unusually high prices. Rahima Food shares closed at Tk174.70 on Wednesday.

Modern Dyeing & Screen Printing Ltd was listed on the DSE in 1988, and the company shut down production in 2010. However, shares of the company were still being traded on the DSE, closing at Tk326.30 on Wednesday.