Dhaka, Bangladesh (BBN)- The regulator has turned down the rights offers proposal of four companies – Bangladesh Building System (BBS), Central Pharmaceuticals Limited (CPL), Mozaffar Hossain Spinning Mills (MSM) and JMI Syringes & Medical Devices (JSMD).
The decisions were taken on Tuesday at a commission meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
“As the companies have not taken enough time after being listed with the exchanges, the stock market regulator ruled out of their rights offer proposal,” said a BSEC statement.
On the other hand, the JMI Syringes & Medical Devices (JSMD) has also not taken enough time after being re-listed with the exchanges.
“It could be helpful for investors to take decision about the rights offer if the companies took enough time after their listing and re-listing. That’s why the regulator has stepped down the company’s proposals of rights offer,” the BSEC statement added.
BBN/SSR/AD-12Nov14-8:55 am (BST)
