Alif Industries Limited will commence its share trading in the main market from Thursday staging a comeback from over-the-counter (OTC) market.
Earlier, the company fulfilled all the requirements in this regard to make foray into the secondary market of Dhaka Stock Exchange (DSE).
Alif Industries, previously known as Sajib Knitwear, was listed with the capital market in 1995. Trading code for the company will be “AIL” and the DSE company code is 17436.
At present, 66 companies are listed with the OTC market that started journey with 51 companies on September 6, 2009.
The shares of the companies which were de-listed from the main trading floor are traded on the OTC market.
Recently, the board of directors of Dhaka Stock Exchange (DSE) has approved trading of the shares of Alif Industries Limited in main market from the OTC market.
However, the DSE set some conditions which will be applicable for trading of the shares of the company, including the reference price shall be the close price of the company traded at the OTC market on December 24, 2017.
The company’s share price closed at Tk 130 on December 24, 2017, according to DSE website.
The circuit breaker and circuit filter (price limit) shall remain operative from the first trading day at DSE and the shares of the company shall be placed primarily under ‘Z’ category after re-listing from the OTC market till the next AGM of re-listing and there after the categorisation will be determined as per relevant provisions of the DSE.
The DSE management also allowed Wata Chemicals which started its trading on the main trading floor from OTC market from May 2014.
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