BANGLADESH

The stock market regulator has announced trading of face value for each share to Tk 10 from Dec 4.

"The shares of listed companies and mutual funds priced higher than Tk 10 have to be changed by Nov 30 after all formalities," a Securities and Exchange Commission (SEC) order, circulated on Thursday, said.

"Dec 1 will be the record date, while trading will begin with the new uniformed face value from Dec 4," it adds.

Dec 2 and 3 are weekly holidays.

Companies missing the deadline will have trading in their shares halted, the order says.

The latest decision came on Aug 23 after the SEC decided to fix the face value at Tk 10 as per a proposal from the committee formed to investigate the Dec-Jan share market scam.

The committee in a report said a certain quarter had pushed the prices of shares without logic by increasing the face value.

The finance ministry had decided on the Tk 10 ceiling several years ago. But the decision had not been made mandatory for all to adhere to. Some companies had fixed the face value at Tk 10 per share following the finance ministry decision at the time.