Beximco Synthetics will be removed from the list

Beximco Synthetics Limited, a Z-listed company, will soon be delisted. Company authorities willing to fulfill the obligations of investors. This information has been known from the relevant sources.

According to the information received, the company, which has been at a loss for a long time, has been unable to pay dividends to shareholders. It has not paid dividends to investors since 2012. This is hurting ordinary investors. As a result, the company wants to be free of liability by returning investors’ fees. To this end, Beximco Synthetics has applied to the Bangladesh Securities and Exchange Commission to be excluded from the capital market.

According to the data, the regulator BSEC is seeing the matter in a positive light. Due to long-term losses, shareholders did not receive dividends from the company, so BSEC applauded the decision made by the company to protect the interests of investors. The company will charge shares from investors at face value.

Regulators BSEC and Beximco Synthetics are also known to have met more than once on the matter, being rare in the history of the country’s capital market that a company has voluntarily paid its debts to investors.

Meanwhile, investors say that many companies have been delisted before, but ordinary investors have received nothing. Companies that have been delisted also need to be addressed and since Ximco Synthetics’ stock price is below par value, this is good news for the market. At least investors will be protected against losses.

Furthermore, we believe that it is possible thanks to the tough measures taken by the commission chaired by the current BSEC chair, Professor Shibli Rubaiyat-ul-Islam, which will further increase investor confidence in the current commission and restore good governance. in the market.

It is also known that the company was listed on the capital market in 1993. Of the total shares of the company, corporate managers hold 36.6 percent of the shares and institutional investors 16.93 percent of the shares. Foreign investors have 0.2 percent. Ordinary investors also own 47.36 percent of the shares. Last time, the company’s share price was Taka 8.90 on the DSEC.

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