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Dhaka Stock Exchange (DSE) upgraded Bangas Limited to “A” category from existing “Z” category as the company has reported disbursement of 15 per cent stock dividend for the year ended on June 30, 2018.
The trading with upgraded category of the company will be effect from Thursday (January03).
To remain in “A” category, every company has to declare at least 10 per cent dividend every year.
Stock brokers and merchant bankers have also been requested to abstain from providing loan facilities for the purchase of the company’s share in the first 30 trading days after the change of categorisation, with effect from January 03.
The Bangas, which was listed on the DSE in 1984, declared “no” dividend for the year ended on June 30, 2017, subsequently, the company sent to “Z” category.
However, the company has reported disbursement of 15 per cent stock dividend for the year ended on June 30, 2018 and upgraded to “A” category from existing “Z” category.
Each share of the company closed at Tk 308.20 on Tuesday. In the last one year, the company’s share price hovered between Tk 175 and Tk 370.
The company’s paid-up capital is Tk 72.62 million and authorised capital is Tk 500 million, while the total number of securities is 7.26 million.
The sponsor-directors own 34.85 per cent stake in the company, while institutional investors own 6.05 per cent and the general public 59.10 per cent as on November 30, 2018, the DSE data shows.