FE Report
The securities regulator after getting its legal experts' opinion directed the bourses Sunday to allow MJL Bangladesh listing, officials said.
An official said the Securities and Exchange Commission (SEC) issued the directive after holding a meeting in connection with MJL listing on the day.
On June 1, country's prime bourse-Dhaka Stock Exchange (DSE)-set a condition to be listed with the bourse and asked the company to fix its offer price at Tk 115 by refunding Tk 37.40 to its primary shareholders in an effort to make the offer price rational. In such a situation, the SEC sought the opinion of its experts whether the company has any complexity to be listed with the bourse following the condition.
An SEC official said their legal experts expressed the opinion in favour of the MJL saying that the company could be listed following the condition set by the DSE.
When asked, Mr Ahmad Rashid Lali, director of the DSE, said the DSE will approve the MJL listing after re-funding the said money.
"However, we hope the company will confirm its listing as early as possible," Mr Lali told the FE.
The securities regulator after getting its legal experts' opinion directed the bourses Sunday to allow MJL Bangladesh listing, officials said.
An official said the Securities and Exchange Commission (SEC) issued the directive after holding a meeting in connection with MJL listing on the day.
On June 1, country's prime bourse-Dhaka Stock Exchange (DSE)-set a condition to be listed with the bourse and asked the company to fix its offer price at Tk 115 by refunding Tk 37.40 to its primary shareholders in an effort to make the offer price rational. In such a situation, the SEC sought the opinion of its experts whether the company has any complexity to be listed with the bourse following the condition.
An SEC official said their legal experts expressed the opinion in favour of the MJL saying that the company could be listed following the condition set by the DSE.
When asked, Mr Ahmad Rashid Lali, director of the DSE, said the DSE will approve the MJL listing after re-funding the said money.
"However, we hope the company will confirm its listing as early as possible," Mr Lali told the FE.
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