Shares of Alhaj Textile traded at lower price in block market
Shares of Alhaj Textile Mills Limited were traded at a lower price in the block market than on the main trading platform of the Dhaka Stock Exchange (DSE) on Sunday (12 February).
The company 's shares were sold at Tk124 to Tk135 in the block market and Tk132.50 to Tk142.90 on the main trading platform.
In a block market, buyers and sellers are predetermined. On the main platform, transactions are done through bidding and there is no fixed buyer-seller. However, shares cannot be bought or sold for fewer than Tk5 lakh in the block market.
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Market insiders said the regulator has relaxed the floor price for the block market. According to the rules, shares can be bought in the block market at 10% less than the floor price.
This opportunity is being taken by a class of investors. They can now buy shares at a lower price from the block and sell them at a higher price in the main market, the insiders said.
The floor price of Alhaj Textile's shares was Tk132.10. On Sunday, 12.66 lakh shares of the company were sold at Tk16.49 crore through the block market, while its turnover value was Tk6.69 crore on the main platform of the DSE.
During the session, its shares price jumped by 6.27% to close at Tk140.60 on DSE's main platform.
