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Listed companies may buy their own shares: SEC

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November 17, 2000 

Dhaka--(UNB)- Securities and Exchange Commission (SEC) has framed new rules allowing listed companies to buy their shares, if needed, at higher prices to keep the market stable.

The capital-market watchdog yesterday endorsed the rules dubbed “Securities and Exchange Commission (market makers) Rules 2000” in its commission meeting, presided over by its chairman Moniruddin Ahmed.

SEC members Iftekhar Gani Chowdhury and Iftekhar Ahmed also attended the meeting.

An SEC official said the new rules would permit securities and listed companies to save their shares from sudden nosedives by buying back those at higher rates.

Such practices meant for propping up the stockmarket at times of downtrend are not allowed under the existing rules.

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