The floor prices on the shares of Islami Bank Bangladesh PLC and Beximco Ltd. are set to be withdrawn from June 8, marking the end of a long-standing trading restriction on the two stocks.
The announcement was made by Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan during a courtesy meeting with the Dhaka Stock Exchange (DSE) on Sunday.
Speaking at the meeting, Khan said, “There will be no floor price in the market. It will be removed on Monday (June 8).”
Several sources present at the meeting confirmed the development. Members of the DSE Board were also in attendance.
A floor price is the minimum price below which a stock cannot be traded. The mechanism was introduced by the regulator during the COVID-19 pandemic to prevent excessive declines in share prices amid market uncertainty.
At present, the floor price of Beximco stands at Tk 110.10 per share, while that of Islami Bank is Tk 32.60 per share.
Although the BSEC had gradually removed floor prices from most listed companies over time, restrictions on Islami Bank and Beximco remained in place. The latest move effectively eliminates the remaining floor-price controls in the stock market.
