The Financial Express

Sonali Paper to make debut on DSE main market July 2

| Updated: July 01, 2020 09:50:31

Evaly and Fianancial Express Evaly and Fianancial Express
Sonali Paper to make debut on DSE main market July 2

Sonali Paper & Board Mills Ltd will start trading on the Dhaka Stock Exchange main market from July 2, after remaining in the over-the-counter (OTC) market since 2009.

The DSE in 2009 transferred the company to the OTC market, a separate trading floor for junk share trade.

The OTC market is meant for those companies that are not in operation or failed to hold AGMs or declare dividends or did not convert their paper shares into electronic ones.

Earlier, the board of directors of the DSE approved the re-listing of shares of Sonali Paper & Board Mills from OTC market to DSE main market.

Trading Code for Sonali Paper is “SONALIPAPR” and the DSE company code is 19503.

The reference price and floor price shall be the last closing price of the company traded at OTC market on January 30, 2020.

So, the open-adjusted price of the company’s share will be Tk 273 each against the face value of Tk 10 each, the DSE said in a web posting on Monday.

The circuit breaker and circuit filter will remain operative from the first trading day, meaning share prices of the company cannot go up or down beyond the permissible limit.

The shares of the company shall be placed primarily under ‘Z’ category after re-listing from the OTC market to main market till the next annual general meeting and then after the categorisation will be determined as per relevant provisions.

The Sonali Paper and Board Mills started its business in 1977 and the company got listed with the DSE in 1985.

The company mainly produces white and printing papers besides liner papers, simplex papers, duplex papers, company officials said.

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