OTC cancels 41 SMEs, deletes 29

Senior Reporter: The OTC (over the counter) platform of the stock market has been disabled. Of the companies listed on the OTC market, 41 have been transferred to the SME Platform and Alternative Trading (Alternative Trading) Board.

It has been decided to delist the remaining 29 from the market. The Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, took the decision on Thursday.

Of the companies in OTC, 23 will go to the SME board. Of these, 6 are in production, 18 are closed. It has been decided to delist 16 and 29 companies going to the Alternative Trading Board.

The regulator BSEC on Thursday issued instructions in this regard. It has been said that the shares of the companies going to the SME board will have to be dematerialized within the next one month.

As a result, there will be no more companies that can be traded in the OTC market. As a result, the OTC market will become ineffective.

When asked, BSEC Commissioner Sheikh Shamsuddin Ahmed said the decision was taken to increase market dynamism. Companies have fallen into the OTC market year after year. Ordinary investors were suffering more.

Therefore, it has been decided to delist the non-existent companies of OTC as per the rules.

Source: Daily StockBangladesh by www.dailystockbangladesh.com.

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