Sponsors, promoters and directors must hold 30 % stake in listed companies and reach that level in six months, the SEC has decided in a meeting
The SEC was quick to respond to the DSE board proposals that came from Monday evening's meeting.
After clearing the DSE proposals at a meeting on Tuesday, SEC spokesman Saifur Rahman told to media that the condition has been imposed in line with the Securities and Exchange Ordinance 1969.
He, however, said the SEC was already working on the issue significantly. Saifur added a gazette will be published in this regard within days.
