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The Bangladesh Securities and Exchange Commission (BSEC) has lifted the floor price from most of the listed securities after 18 months of imposition.
Analysts, merchant bankers, and asset managers welcomed the decision.
However, the floor price will still apply to 35 companies, and for others, the upper limit and lower limit of the circuit breaker will be there, according to an order of the BSEC issued on Thursday.
On July 28 last year, the stock market regulator imposed the floor price on all stocks by calculating their average prices from the preceding five days to stop the index from falling from the economic uncertainties.
The decision was criticised by most analysts and foreign investors. However, the regulator continued with the floor price for 18 months.
The 35 companies for which floor price will still be applicable are: Anwar Galvanizing, Baraka Power, British American Tobacco Bangladesh, Beximco, Bangladesh Submarine Cables, BSRM, BSRM Steel, Confidence Cement, DBH, Doreen Power, Envoy Textile, Grameenphone, HR Textile, IDLC Finance, Index Agro Industries, Islami Bank, KDS Accessories, KPCL, Kattali Textile, Malek Spinning, National Housing Finance, National Polymer, Orion Pharmaceuticals, Padma Oil, Renata Ltd, Robi, Saiham Cotton, Shasha Denim, Sonali Paper, Sonarbangla Insurance, Shinepukur Ceramics, Shahjibazar Power, Summit Power, and United Power.