Written by The Banking Post
Shares of Beximco Ltd, locked at the floor price in Dhaka’s main market since December, saw limited movement in the block market after news of a major Japanese lease agreement.
On Monday, block trades were executed at Tk 99.40 per share—slightly above the floor price of Tk 99.10—according to Dhaka Stock Exchange (DSE) data. The stock’s main market price remains fixed at Tk 110.10, with no trades at that level.
The floor price mechanism, introduced during the COVID-19 pandemic to prevent a market slide, has been removed for most companies but still applies to a few, including Beximco.
Hopes for a turnaround emerged after Japan’s Revival Project Ltd agreed—under government mediation—to lease and operate Beximco’s textile and apparel division (Bextex) with a Tk 2.5 billion investment. A “comfort letter” has been issued by the group in support of the deal, said the labour secretary.
Following the announcement, 5,034 shares worth Tk 500,000 changed hands in the block market. Under BSEC rules, block trades can occur at up to 10% below the main market price.
Meanwhile, the DSE index extended its losing streak to a fifth day, slipping 6.98 points to close at 5,344. Daily turnover fell to Tk 6.11 billion from Tk 7.61 billion the previous day. Pharmaceuticals and chemicals led the session’s trade at Tk 913.9 million, followed by banks and textiles.
