The board of directors of Dhaka Stock Exchange (DSE) suspended the trading of Khulna Power Company Ltd (KPCL) with effect from today (Wednesday) for indefinite period.
The DSE board, in its meeting held Wednesday morning, has decided to suspend the trading of the KPCL in accordance with sub section-7 of section-9 of the Securities and Exchange Ordinance, 1969 and Regulation 50 (1) of the DSE (Listing) Regulations, 2015, with immediate effect, according to a disclosure posted on the DSE website.
According to the sub section-7 of section-9 of the Securities and Exchange Ordinance, 1969, the commission or a Stock Exchange may, if it considers it to be in the interest of trade or in the public interest so to do, suspend, by order recording the reasons, trading in any listed security.
The exchange may suspend trading of any listed securities in the event of contravention of any provisions of these regulations by the concerned issuer or if the exchange have reason to believe that not all material information is available to the public for efficient price discovery, according to regulation 50(1) of the DSE (Listing) Regulations, 2015.
Each share of Khulna Power, which was listed on the DSE 2010, closed at Tk 98.40 on Tuesday.
