MI Cement makes debut on DSE Sunday

The board of directors of Dhaka Stock Exchange (DSE) has finally approved the listing proposal of MI Cement. The company will make its debut in DSE Sunday (May 22). 

The DSE board Wednesday approved the listing proposal following a meeting with the newly appointed chairman of the Securities and Exchange Commission (SEC).

Sources said Chairman of the SEC Dr M Khairul Hossain also directed the DSE authorities to approve MI Cement listing proposal by supporting the views of his predecessor.

Under the chairmanship of Ziaul Huq Khondoker, the SEC directed the DSE twice to approve MI Cement listing in line with a provision of Securities and Exchange Commission Ordinance, 1969.

Finally, the DSE board decided to give the final approval after holding discussion with the newly appointed SEC chair.

However, the company made debut in the Chittagong Stock Exchange (CSE) on May 8.

Meanwhile, the securities regulator Wednesday further allowed MJL Bangladesh two weeks more time to be listed with the bourses.

An official of the SEC said the regulator granted the extension as the company authorities earlier applied to the regulator seeking four weeks more for the purpose.

On April 21 the regulator allowed two weeks to the MJL authorities for the purpose.

But the MJL authorities failed to meet the deadline, as the bourses refused to accept their listing proposal due to overpriced.

Under the book building system, MJL Bangladesh offloaded 40 million shares with an offer price of Tk 152.40, including a premium of Tk 142.40 each, against Tk 10.

Source: the financial express, 19 may, 2011

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