The Bangladesh Securities and Exchange Commission (BSEC) has withdrawn the floor prices from Beximco and Islami Bank shares. This decision was announced on Monday after market transactions concluded. The floor prices will be effective from Tuesday. The BSEC cited the interests of the capital market and investors for this decision. The new BSEC chairman, Masud Khan, had announced the removal of floor prices during a press conference on Thursday.
The floor prices were initially imposed in July 2022 to prevent a continuous decline in the share market following the Russia-Ukraine war. The BSEC began withdrawing these floor prices in January 2024, starting with 35 companies. The remaining two companies, Beximco and Islami Bank, have now also had their floor prices removed. This marks the end of the floor price regime that was introduced in July 2022.
The removal of floor prices from Beximco and Islami Bank shares has been a topic of discussion in the market since Thursday. On Monday, Beximco shares were trading at 110 taka per share, and Islami Bank shares were at 32 taka 60 poysha per share.
