Dhaka, Bangladesh (BBN)-The Dhaka Stock Exchange (DSE) has transferred the Wata Chemical Limited from the OTC (Over-the-counter) market to the main market, officials said Monday.
The order will be effective from Wednesday as the capital market will remain closed Tuesday on the occasion of public holiday due to Buddha Purnima.
The Wata Chemicals was shifted to the OTC market with more 49 companies in 2009 due to failure to hold annual general meeting (AGM), disburse any dividend and continue production.
Meanwhile, in August 2013 the Bangladesh Securities and Exchange Commission (BSEC) gave its consent on the re-listing the companies following their pleas to turn back to main bourse after disbursing dividend and holding AGM.
The securities regulator asked the bourses to take measures for re-listing of the Wata Chemicals as per the exchanges’ listing regulations.
“As per decision of the board of directors of DSE, trading of the shares of Wata Chemicals Ltd has been transferred from the OTC market to the main market of DSE with effect from May 14,” said statement posted on DSE website on Monday.
From Wednesday, its trading will be held under ‘A’ category in accordance with Regulation 2(1) (a) of the Dhaka Stock Exchange (Settlement of Transactions) Regulations, 2013, the statement added.
DSE Trading Code for Wata Chemicals Ltd is ‘WATACHEM’, DSE Company Code # 18467, Face Value Tk 10 each, Market Lot 200 shares and Open Adjusted Price is Tk 49.50 (last close price at DSE OTC Market).
The circuit breaker and circuit filter (price limit) shall remain operative from the first trading day (i.e. May 14, 2014) at DSE as shares of the Company have already been traded and market price is available in the DSE OTC Market, said the statement.
BBN/BB/AF-12May14-7:00pm (BST)
