The companies are now waiting for the approval from the board meetings of the Dhaka Stock Exchange and the Chittagong Stock Exchange
The stock market regulator on Thursday gave the green signal to four small companies to get re-listed on the main board of the stock exchanges after they were banished to the over-the-counter (OTC) market for compliance failure.
The companies are now waiting for the approval from the board meetings of the Dhaka Stock Exchange and the Chittagong Stock Exchange.
As per the BSEC statement, due to improvement in business and taking steps in line with the BSEC’s miscellaneous catch, the stock exchange has agreed to allow the companies to trade in the main market in the light of certain conditions.
The four companies would be trading in the "Z" category and the status would continue until their annual general meetings.
The OTC market provides an alternative to stock exchange listing for securities of issuers that either chooses not to be listed on stock exchanges or not to meet the relevant listing requirements.
The term "OTC securities" is a catch-all phrase for any security that is not listed on the stock exchanges.
Currently, 65 companies including the four companies, with a market capitalisation of Tk 51,845.7 crore, are trading at the OTC counter, which started in September 2009 with 51 companies.
In the last year, the previous commission of the BSEC approved the re-listing of Sonali Paper.