Renata, Anwar Galvanizing, Orion Pharma see floor price withdrawal

The Bangladesh Securities and Exchange Commission (BSEC) has lifted the floor price for Anwar Galvanizing, Orion Pharmaceuticals and Renata as part of its move to bring back vibrancy to the market.

The three companies will see the withdrawal of the floor price from tomorrow, said the commission in a notice today.

The floor for British American Tobacco Bangladesh, Grameenphone and Robi Axiata will be lifted from their next record date, the day on which a company finalises the list of shareholders eligible for its forthcoming dividend distribution.

The commission set the floor price in July 2022 to prevent a free-fall of shares amid uncertainties caused by the Covid-19 pandemic and the Russia-Ukraine War.

On January 18 this year, the commission scrapped the floor price for most of the stocks.

The commission has not said anything when the floor price for Meghna Petroleum, Beximco Ltd, BSRM Ltd, KPCL, Shahjibazar Power, and Islami Bank Bangladesh will go.