DSE Adjusts Beximco Share Price to Tk110.10

Sinha Securities' Chairman, Parveen Akhter Khanam, will sell 2 lakh shares of ACME Laboratories from her 65.15 lakh shareholding to reduce a deficit in the brokerage firm's consolidated customer account (CCA). The shares, valued at over Tk1.47 crore, will be sold under the Bangladesh Securities and Exchange Commission's (BSEC) directive.

The Bangladesh Bank (BB) is introducing 90-day and 180-day BB Bills to reduce excess liquidity and curb inflation, alongside the existing 7-day, 14-day, and 30-day bills reintroduced in 2021. These longer-tenure bills aim to strengthen the tight monetary policy as inflation remains over 9% since March 2023, with annual average inflation hitting 10.05% in October.

The share price of Energypac Power Generation PLC (EPGL), a publicly traded company in the power and energy sector, dropped by 10.49% last week, closing at Tk 12.80, compared to Tk 14.30 the previous fiscal year. According to the Dhaka Stock Exchange (DSE), the company decided not to declare any dividends for the 2023-24 fiscal year, during which its earnings per share (EPS) recorded a loss of Tk 5.18, a stark decline from a profit of Tk 0.75 in the previous year.

IPO approvals in Bangladesh take 18-24 months, far longer than peer countries like India, where it takes six months. Delays stem from unclear regulatory guidelines and incomplete submissions, discouraging companies from going public.

The Bangladesh Securities and Exchange Commission (BSEC) has requested a five-year extension for the Tk 200 crore fund, which banks can borrow from Bangladesh Bank to invest in the stock market. Additionally, BSEC seeks to increase the loan amount to Tk 300 crore.

The Dhaka Stock Exchange (DSE) adjusted the floor price for Beximco Limited shares to Tk110.10 on 27 November, following a 5% stock dividend for the fiscal year 2024. The company had set a record date of 25 November for this dividend, but due to a technical issue, the DSE initially displayed a 5% increase in Beximco’s share price on 26 November.