Summit Power, Exim Bank among 10 firms removed from CSE30 index
The port city bourse Chittagong Stock Exchange (CSE) has removed 10 companies including Apex Footwear, Exim Bank, Pubali Bank, Mercantile Bank and Summit Power from its blue-chip index CSE30.
After removing them, the CSE has included the same number of firms including Bank Asia, BAT Bangladesh, BSRM Steels, Square Textiles and NRBC Bank.
The CSE30 Index is reviewed twice a year. The revised index will be effective from 10 September, according to a CSE press release.
The new list of CSE30 Index constituent companies are Aamra Networks, Bangladesh National Insurance, BSC, BSCCL, Bank Asia, Beximco Pharma, BRAC Bank, BAT Bangladesh, BSRM Steels, City Bank, Delta Life Insurance, DBH Finance, Eastern Bank, Eastern Housing, IDLC Finance, Jamuna Oil, LafargeHolcim, Matin Spinning, Meghna Petroleum, MJL Bangladesh, NRBC Bank, Olympic Industries, Padma Oil, Prime Bank, Square Pharma, Square Textiles, Acme Laboratories, Premier Bank, Unique Hotel and Uttara Bank.
The CSE launched a completely new selective index incorporating 30 scrips with a base date of 30 December 1999 and a base index of 1000.
After revision in the index advisory committee meeting held on 4 September 2018, two-layer methods are followed for selection of listed companies in the CSE30 index.
The major basic criteria for a company for inclusion in the CSE30 index are having a minimum market capitalisation of Tk60 crore, at least 20% free floating share capital, traded for at least 70% trading days of the six-monthly review period and financial institution falling under the watch list of Bangladesh Bank.
The CSE’s selection criteria also include higher net assets value per share, higher rate of earning per share, higher rate of dividend and lower price-earnings ratio.
