Order of Circuit Breaker regarding newly listed Companies

BANGLADESH SECURITIES AND EXCHANGE COMMISSION
Securities Commission Bhaban
E-6/C Agargaon, Sher-e-Bangla Nagar
Administrative Area, Dhaka 1207, Bangladesh

No. BSEC/Surveillance/2020-975/210 06 May 2021

ORDER

Whereas, the Bangladesh Securities and Exchange Commission is satisfied that, in the interest of investors and securities market and for the development of securities market, certain directions shall be issued for regulating the share price movement in the stock exchange trading;

Now, therefore, in exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited the following regarding circuit breaker for any newly listed security:-

Paragraph 2 of the Commission’s order No. BSEC/CMRRCD/2001-07/229 dated 14 November 2019 shall be replaced by-

"2. Circuit breaker for any newly listed security:
Usual applicable circuit breaker mentioned in Paragraph 1 shall be imposed from the first trading day of any newly listed securities."

instead of-

"2. Circuit breaker for any newly listed security:
(a) Circuit breaker shall be imposed on any newly listed security from the first trading day; (b) For the first trading day, circuit breaker shall be 50% (Fifty Percent) on issue price; (c) For the second trading day, circuit breaker shall be 50% (Fifty Percent) on previous trading day’s closing price; (d) Usual applicable circuit breaker mentioned in paragraph 1 shall be imposed from the third trading day."

This Order shall have immediate effect and shall remain in force until further order.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

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