Floor price withdrawn

Will remain in 35 institutions

Staff Correspondent : Finally, the floor price (minimum limit) has been lifted by the regulatory body Bangladesh Securities and Exchange Commission (BSEC). However, there will be no floor price on all but 35 from next week.
Mohammad Rezaul Karim, the spokesperson of Bangladesh Securities and Exchange Commission, the regulatory body of the capital market, confirmed the matter to Daily Industry.
He told that in the interest of the capital market and investors, the Commission has removed the floor price of the remaining 35 companies. Normal circuit breakers will be in effect in establishments where the floor price has been waived. And in the case of institutions under floor price, decisions will be taken based on the situation.
He said, the commission expects the removal of floor price to have a positive impact on the market and to bring momentum back to the market.
Unable to stop the continuous fall in the stock market, the regulatory body BSEC imposed a floor price on the shares several times in the last four years.
The floor price was first imposed in March 2020 but was withdrawn in July 2021. Then BSEC imposed floor price again in July 2022 due to Russia-Ukraine war. At this stage, if the share trading is greatly reduced, the regulatory body will be criticized. Recently there has been a storm of criticism about the floor price. In view of which the commission raised the floor price.