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MJL likely to propose cash Div

MJL Bangladesh is likely to propose cash dividend and a certain amount of compensation to pave the way for company's listing with the bourses, sources said. A tri-partite meeting, held among the Securities and Exchange Commission (SEC), both the stock Exchange and MJL Bangladesh, 28 April discussed the listing issue of the company.
An SEC official said at the meeting the company has expressed its opinion to offer cash dividend to its shareholders so that its offer price can be minimised. He said for example if the company offers 20 per cent cash dividend, the company's offer price of BDT 152.40 is likely stand to BDT 132.
At the same time, the company wants to pay a certain amount of compensation (not full compensation) to its intending shareholders if the market price of the company goes down below the offer price within next six months of its listing.

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