DSE to buy 500 shares of Meghna condensed milk
Collected Photo
To address a shortfall in share supply during the settlement process of stock market transactions, the Dhaka Stock Exchange (DSE) will purchase 500 shares of Meghna Condensed Milk. These shares will be acquired today (Sunday, September 6) through the DSE's 'buy-in' market. This information was confirmed by DSE sources.
Essentially, if a seller fails to deliver shares within the stipulated time after a transaction is executed on the stock market, it creates complications in the settlement process. In such situations, the DSE acts as an intermediary and facilitates the 'buy-in' market to procure the deficient shares and complete the settlement process. As part of this procedure, the exchange will now acquire 500 shares of 'Meghna Condensed Milk.'
The DSE notice said that shareholders willing to sell these 500 shares of Meghna Condensed Milk must inform the DSE's Settlement Department before placing their sell orders. In other words, those who hold the specified shares and are interested in selling them must contact the DSE to participate in the sale process.
Following the completion of the transaction in the buy-in market, the selling broker must transfer the shares to the DSE's settlement account through the designated procedure. A directive has been issued to complete the share transfer by 1:30 PM.
The specific account number for transferring shares to the DSE's designated settlement account has also been provided. Concerned brokers have been instructed to ensure the share transfer within the stipulated time.
In the stock market trading system, a 'buy-in' is essentially a mechanism to cover a shortage in share supply. If a seller fails to deliver sold shares on time, shares are procured from the market through this process to settle the concerned transaction. This reduces the risk of a transaction settlement being stalled due to a delivery shortfall.
In the case of Meghna Condensed Milk, the DSE has taken this initiative to cover a shortage of 500 shares. Once the share acquisition and transfer are completed through the designated process, the settlement of the relevant transaction will be possible.
