The Dhaka Stock Exchange has decided to review the performance of two more companies — Sonargaon Textiles and Information Services Network.
With the two, the number of ‘Z’ category companies to be reviewed by the bourse stands at 15.
The DSE on Wednesday disseminated on its web site the news that the performance of the two companies would also be reviewed since the issuers have failed to declare dividends for a period of five years from the date of declaration of last dividend or the date of listing with the exchange.
The DSE sent letters to the companies asking them to inform the bourse about their current business position and whether they have any business plan to revive their companies. The companies will have to reply to the bourse’s letters immediately.
Earlier on Monday, the DSE board decided to review the performance of 13 dud companies that included Meghna Pet Industries, ICB Islamic Bank, Dulamia Cotton Spinning Mills, Samata Leather Complex, Shyampur Sugar Mills, Zeal Bangla
Sugar Mills, Imam Button Industries, Meghna Condensed Milk Industries, Kay & Que (Bangladesh), Savar Refractories, Beximco Synthetics, Jute Spinners and Shinepukur Ceramics after detecting abnormal hike in their share prices.
DSE officials said that there were 15 more companies under the DSE scanner, which were not complying with the listing and securities laws for years.
The bourse has initiated the move to increase accountability and transparency of listed companies, and recoup the investors’ confidence in the country’s capital market.
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