The board of directors of Dhaka Stock Exchange (DSE) has decided to impose fresh conditions on MJL Bangladesh Limited to be listed with the country's premier bourse.
According to the sources, DSE board at a meeting Sunday decided to allow MJL listing if the company agrees to reduce 20 per cent of its indicative price or price earning (PE) ratio of the company stands at 15.
Otherwise, the DSE board has requested the MJL authorities to refund the money to the investors.
Sources said the DSE board will submit its proposals to the Securities and Exchange Commission (SEC) shortly to resolve the MJL listing issue.
Recently, the MJL authorities submitted listing proposal to the SEC and DSE offering 20 per cent cash dividend to the investors before listing. They also offer to compensate at best Tk 10 each share if the price falls down from the indicative price.
On condition of anonymity, a senior member of the DSE board told the FE that the latest compensation proposal submitted by the MJL authorities was not enough to protect the interest of the investors.
According to the sources, DSE board at a meeting Sunday decided to allow MJL listing if the company agrees to reduce 20 per cent of its indicative price or price earning (PE) ratio of the company stands at 15.
Otherwise, the DSE board has requested the MJL authorities to refund the money to the investors.
Sources said the DSE board will submit its proposals to the Securities and Exchange Commission (SEC) shortly to resolve the MJL listing issue.
Recently, the MJL authorities submitted listing proposal to the SEC and DSE offering 20 per cent cash dividend to the investors before listing. They also offer to compensate at best Tk 10 each share if the price falls down from the indicative price.
On condition of anonymity, a senior member of the DSE board told the FE that the latest compensation proposal submitted by the MJL authorities was not enough to protect the interest of the investors.
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