A view of Dhaka Stock Exchange. Photo: BBN
Dhaka, Bangladesh (BBN)- After semi-annual rebalancing, the index committee of Bangladesh prime bourse has recommended three new companies in its DSE-30 Index (DS30), replacing existing three underperforming companies.
The decision of the index committee will be effective from July 23, according to a Dhaka Stock Exchange (DSE) statement.
The indices committee of DSE has selected the companies after revising the semi-annual performance of the companies in line with the index methodology designed by S&P Dow Jones Indices, the statement said.
The three new companies which will be included in the DS30 are: Pubali Bank, Padma Oil Company and IFAD Autos as they met all criteria as constituents of DS30.
The firms that will be excluded from the DS30 are: Bara Shoe Company (Bangladesh), UCB and Meghna Petroleum as they didn’t comply with the requirements to retain their membership in DS30, said the DSE statement.
The DSE statement also noted that in accordance with the DSE Bangladesh Index Methodology, designed by S&P Dow Jones Indices and thorough supervision by index committee of DSE, no company is qualified as eligible constituents of DSEX for quarterly initial public offering (IPO) addition in the DSE Broad Index (DSEX).
The DSE on January 27, 2013 introduced two new indices — DSE Broad Index (DSEX) and the DSE-30 Index (DS30) -- replacing the DSE General Index (DGEN) and the DSE-20 respectively on the basis of free-float method developed by the Standard and Poor’s.
As for DS30, 30 companies based on profitability, market capitalisation and share size were selected, with the companies changed every six months on the basis of performance. The companies included in DS30 also considered as good shares to invest.
BBN/SSR/SR