Kay & Que, and Aziz Pipes Ltd back to the public market for transactions on Tuesday, after remaining two years in the spot market.
The stock market regulator has allowed low-cap companies Kay & Que, and Aziz Pipes to return to the public market from spot market for transactions effective from Tuesday, according to a disclosure posted on the Dhaka Stock Exchange website on Tuesday.
Besides, financial adjustment facilities in transactions of the shares will be applicable as per the existing rules, said the disclosure.
The Bangladesh Securities and Exchange Commission (BSEC) on August 16, 2018 sent Kay & Que, and Aziz Pipes to the spot market following their abnormal price hikes.
The BSEC in a letter on Monday asked stock exchanges to put the firms in regular trading from Tuesday.
Earlier in August 2018, the two companies were sent into the spot market because of excessive speculation in their stocks. At that time, the companies had broken their long streak of making losses and managed to pay some dividends.
In the spot transactions at stock exchanges, buyers need a cash balance in their investment accounts instead of using sales proceeds the day before maturity.
Kay and Que (Bangladesh), once a dry cell battery carbon rod manufacturer, had been incurring losses for years. In 2017, it managed to post some profits after it had stopped decades-old operational activities and looked to restructure its physical assets on the factory premises.
The price of the company shares, which was listed on the DSE in 1996, at the DSE closed at Tk 207.40 on Monday.
Each share of the Aziz Pipes, which was listed on the DSE in 1986, closed at Tk 97.50 on Monday.
