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Dhaka Tribune

Wata shares to back on DSE main market tomorrow

Update : 12 May 2014, 07:20 PM

Share trading of Wata Chemicals, which was in the OTC market for last four years, will begin at the DSE main market from tomorrow.

The Dhaka Stock Exchange board last week approved reenlistment of the company, paving the way to transfer it to the main board from the over the counter (OTC) market, a separate trading floor for junk shares. 

DSE in a statement yesterday said trading of the shares of the company has been transferred from the OTC market to the main market of DSE with effect from May 14.

Its trading code is “WATACHEM”, face value Tk10 each, market lot 200 shares and opening adjusted price will be Tk49.5 (last close price at OTC market), it said.

The circuit breaker and circuit filter (price limit) shall remain operative from the first trading day at DSE as shares of the company have already been traded and market price is available in the OTC market, according to the statement.

In 2009, the DSE and Chittagong Stock Exchange had delisted Wata Chemicals for non-compliance with the regulations, including non-issuance of dividends for shareholders of the company since 2003.

“As the company complied with all the regulations required for beginning trade in the main

board, the bourse allows it to begin trading in the main market,” 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.

The Bangladesh Securities and Exchange Commission 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.

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