Among 61 over-the-counter (OTC) markets, 21 companies are willing to resume their trading.
Bangladesh Securities and Exchange Commission (BSEC) is likely to issue a notification to the 21 OTC firms getting into the newly built small-cap or SME platforms of bourses. It has already reviewed their plans.
Of the 21 firms, eight are already in operation and need to raise capital from investors to proceed. They are- Apex Weaving and Finishing Mills, Bangladesh Hotels Ltd, Bengal Biscuits, Gachi Hata Aquaculture Farms, Himadri Ltd, Rangamati Food Products Ltd, Wonderland Toys, and Yousuf Flour Mills Ltd.
The other 13 are not in operation but got their business revival plan approved by BSEC. The list includes Al-Amin Chemical Industries, Alpha Tobacco Manufacturing Company, Amam Sea Food Industries, Ashraf Textile Mills, Bangladesh Electricity Meter Company, Bangladesh Leaf Tobacco Company, Bengal Fine Ceramics, Bionic Sea Food Exports, Dhaka Fisheries, Excelsior Shoes, Lexco Ltd, Meghna Shrimp Culture Ltd, and Raspit Data Management.
The firms must convert their shares into electronic ones from the old-fashioned paper certificates. Each of the 21 firms would be entitled to raise capital from the SME or small-cap platforms of the bourses.
BSEC also has decided to allow 19 OTC firms to get into the newly built Alternative Trading Board (ATB) of the bourse to offer investors liquidity – the opportunity to sell assets with ease.
In 2009 October, DSE launched its OTC platform with 51 companies that were ousted from the main trading board.
Source: The Business Standard