BigstockAs per a stock market regulator directive, all sponsors or promoters and directors of a listed company must jointly hold a minimum 30% shares of the paid-up capital of the company at all timesA total of 41 publicly listed companies were yet to comply with the 30% shareholding requirement by their sponsors and directors. The stock market regulator came up with the order in the aftermath of the stock market crash in 2010. On July 29 earlier this year, the new commission 44 listed companies to ensure a minimum 30% shares in their own companies within 60 days. As per information received from the regulator on Monday, 41 of the 44 were yet to comply with the rule. The BSEC also decided to direct its enforcement department to take legal action against directors of listed companies who were not individually holding at least 2% share of paid-up capital.

Source: Dhaka Tribune September 28, 2020 15:11 UTC