'Floor price' to remain in place until further order: BSEC

FE REPORT | Friday, 12 August 2022

The securities regulator says the 'floor price' imposed recently will remain effective until further order.

The Bangladesh Securities and Exchange Commission (BSEC) made the announcement on its official facebook page on Thursday.

The announcement came in the wake of rumours of possible withdrawal of the 'floor price'.

"The rumours, which are being spread in different forums, have come under the observation of the commission and law enforcing agencies," the BSEC said in a statement posted online.

The rumour spreaders have been indentified and legal actions will be taken against them very soon, it added.

"The floor prices will remain effective until further instruction to be issued through specific directive," it said.

In an order issued on July 28, the securities regulator set floor prices for all listed securities, based on five-day average closing prices.

However, the 10 per cent upper circuit limit will remain in place as usual, but the market prices of the listed securities will not be allowed to go below their respective floor prices.

The securities regulator imposed the 'floor price' in a bid to contain the free-fall of the market.

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