The listing committee of Dhaka Stock Exchange (DSE) Sunday once again rejected the listing proposal of Bangladesh cement producer, MI Cement, sources said. The committee says it will convey its decision to the board of DSE which will take the final decision on the issue.
The board is scheduled to hold its meeting very soon. According to sources, MI Cement applied to the DSE seeking permission to be listed with the bourse offering compensation to its primary shareholders if the prices fall below offer prices within six months of the start of trading. The source, however, said the compensation proposal which the MI Cement made earlier was not consistent with the company Law, so the DSE rejected the proposal.
"MI Cement again came up with same proposal and that’s why the listing committee has refused to accept it," he added.