The Bangladesh Securities and Exchange Commission (BSEC) has lifted the minimum price for the shares of four more companies.

The order concerning Khulna Power, Shahjibazar Power, BSRM and Meghna Petroleum will come into force on Thursday.

Currently, the reserve price applies only to two companies – Beximco Ltd and Islami Bank Bangladesh.

The Securities and Exchange Commission took the decision on Wednesday at an emergency meeting chaired by its chairman Khondoker Rashed Maqsood.

The BSEC removed the price floor for listed securities about two years after its introduction in order to revive a vibrant capital market. The regular safeguard mechanism that was in place before the introduction of the price floor is now effective.

At Wednesday’s meeting, the BSEC also decided that share prices of all companies could rise or fall by up to 10 percent daily, with a minimum limit of 3 percent per day.

BSEC has also decided to terminate the Memorandum of Understanding (MoU) with the National Telecommunication Monitoring Centre (NTMC) and withdraw the letter sent by the Commission to the Financial Institutions Division.

The Securities and Exchange Commission also cancelled the appointment of national cricketer Shakib Al Hasan as special ambassador for the nationwide financial literacy program.

In addition, the meeting decided to take immediate legal action against those listed companies that have not paid the announced dividends on time and in accordance with the regulations.

On January 18 this year, the BSEC issued an order after the market closed to lift the price floor for all listed companies and mutual funds, except for the shares of 35 companies, in response to a long-standing demand from shareholders. The price floor for the other companies was also lifted gradually later.

Previously, the BSEC had introduced floor prices for all securities on July 28, 2022 to prevent stocks from falling below a certain level amid domestic and global macroeconomic tensions.

The share prices of most companies remained at their minimum price for an extended period of time, forcing investors to liquidate their holdings and triggering a liquidity crisis in the market.