According to the direction of The Securities and Exchange Commission on Tuesday, the Dhaka Stock Exchange is to de-list securities of four more companies from the main list with effect from October 20.
These four companies under Z category would be de-listed as their operations have remained suspended for months and they have not given any dividends to investors
These are: 1. Apex Weaving and Finishing Mills, 2. Dhaka Fisheries, 3.Monno Fabrics and 4. Padma Cement — increased abnormally in recent times although their operations had remained suspended.
The commission on Monday decided to de-list companies that had remained under Z category in the last two years. A total of 19 companies, including the above mentioned four, had remained under Z category for more than two years.
There are legal complexities in de-listing some other companies like Chittagong Vegetables and Meghna PET, while some companies like Rupali Bank and Bangladesh Shipping Corporation are state-run,’
The SEC earlier sent 25 companies into OTC market on October 1 after they failed to convert their paper shares into electronic shares.
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Investors, however, are worried about their investments in these companies.
Stock regulators and stock exchange authorities earlier warned investors repeatedly not to invest in the junk shares