Three more companies listed on the capital market have been transferred to the ‘Z’ category. The Dhaka Stock Exchange (DSE) has transferred the companies from the ‘A’ and ‘B’ categories to the ‘Z’ category.
This information has been revealed by sources at the Dhaka Stock Exchange (DSE).
The two companies are – Sea Pearl Beach, Union Bank and Sonali Life Insurance Company Limited.
According to the source, the DSE has transferred these companies to the ‘Z’ category on the instructions of the regulatory body Bangladesh Securities and Exchange Commission (BSEC) for violating the securities law. The companies have failed to hold their annual general meetings (AGM) within the stipulated time. The shares of the companies will be traded in the ‘Z’ category from today, Wednesday (January 15).
Earlier, the BSEC issued two separate instructions on May 20 last year and December 26, 2021. According to that order of the BSEC, the companies have been transferred to the ‘Z’ category.
