OTC to main market: Sonali Paper to begin trading on DSE from Thursday

Sunbd Desk || Published: 2020-06-29 15:28:50 || Updated: 2020-06-29 15:28:50

Shares of Sonali Paper have been trading on the bourse’s over-the-counter (OTC) market for the last 10 years for non-compliance of rules related to the main board of the stock exchange

Sonali Paper and Board Mills Limited starts trading on the Dhaka Stock Exchange’s (DSE) main board from Thursday.

Shares of Sonali Paper have been trading on the bourse’s over-the-counter (OTC) market for the last 10 years for non-compliance of rules related to the main board of the stock exchange.

Earlier, the board of directors of the DSE had approved the re-listing of shares of Sonali from OTC market to DSE main board, the stock exchange said in a web posting on Monday.

Trading Code for Sonali Paper is “SONALIPAPR” and the DSE company code is 19503.The reference price and floor price will be the last closing price of the company traded at OTC market on January 30, 2020.

The open-adjusted price of the company’s share will be Tk273 each against the face value of Tk10.

The circuit breaker and circuit filter will remain operative from the first trading day, meaning share prices of the company cannot go up or down beyond the permissible limit.

The shares of the company shall be placed primarily under the ‘Z’ category after re-listing from the OTC market to the main market till the next annual general meeting and then after the categorization will be determined as per relevant provisions.

The Sonali Paper and Board Mills started its business in 1977 and the company was listed with the DSE in 1985.

The company mainly produces white and printing papers, simplex papers, duplex papers.

Sonali Paper has raised its paid-up capital gradually by declaring bonus dividends since 2011 and its paid-up capital stood at Tk 16.63 crore in 2019. The company did not declare any dividend in 2017 and 2018.

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