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Share price of Sunlife Insurance rose 14.61% or Tk 2.6 to close at Tk 20.40
Share prices of Sunlife Insurance Company Limited rose by around 15% yesterday, although the company declared ‘no’ dividend for the year ended on December 31, 2019.
Prices of other junk and low capital stocks also kept rising abnormally at Dhaka Stock Exchange (DSE) for days.
According to an official disclosure, posted by the companies concerned on Dhaka Stock Exchange website on Sunday, Sunlife Insurance’s board of directors has recommended ‘No Dividend’ for the year ended on December 31, 2019.
The Board has also decided to hold an extraordinary general meeting (EGM) for sale of the company’s land located at Mohakhali in Dhaka.
The disclosure indicates the bad side of a company’s business. Even then, the company’s share prices rose abnormally.
Share price of Sunlife Insurance rose 14.61% or Tk 2.6 to close at Tk 20.40.
Sunlife Insurance was listed on the Dhaka Stock Exchange in 2013. The company belongs to the “Z” category. The company’s paid-up capital is Tk36 crore.
Meanwhile, the stock market also decided that trading settlements for the companies in the Z category would be T+3 instead of T+9 at stock exchanges
The country’s prime bourse, Dhaka Stock Exchange, now trades 53 junk stocks.
(DT)
