B Mirror Desk : The Investment Corporation of Bangladesh (ICB) is exempt from the 5% maximum investment limit in a single share of the “A” category listed on the stock market, according to a decision made by the Bangladesh Securities and Exchange Commission (BSEC). In other words, ICB will have the ability to invest more than 5% in “A” category company shares.

The decision was made on Tuesday, April 22, during the 952nd commission meeting. A press statement bearing the signature of BSEC Director and Spokesperson Abul Kalam revealed this knowledge.

The release said that in view of the application of the Investment Corporation of Bangladesh (ICB) and considering the stability of the country’s stock market, the decision has been taken to exempt ICB from the maximum investment limit of 5% in a single share of the ‘A’ category companies listed on the country’s stock market with the aim of creating more investment opportunities in fundamental and future-proof securities.

It is to be noted that in this case, the relevant rules of the Bangladesh Securities and Exchange Commission (Acquisition, Acquisition and Taking Over of Significant Number of Shares) Rules, 2018 must be properly complied with by the ICB. In addition, in the case of purchase and sale of shares under the Commission’s letter No. BSEC/SRMID /2011/1240/847; Date: October 29, 2019, the relevant conditions of the Commission’s Notification No. BSEC/CMRRCD / 2009-193/217 / Admin / 90; Date: May 21, 2019 regarding holding of shares by the promoters and directors of the company must be properly complied with.