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No explanation given by the seller.
https://businesspostbd.com/stock/ific-securities-to-exit-from-beximco-pharma-2023-04-05
Q3 results around the end of the month?
Yes good news dividend is coming through.
Outlook for usd reserves in country remains a little pressured at moment.
https://thefinancialexpress.com.bd/views/opinions/pressure-on-forex-reserve-increases
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Good to see the Dividend payment arriving. The FX delay had nothing to do with BXP, it was the Bank where there was a temporary FX -related delay.
The shares are rather cheap just now!
Paid today into my account. All is good.
From a fundamentals point of view, PER, divi etc this looks a bargain. This is, it looked a bargain at 60p, 50p, 40p and now, unbelievably, it’s dropped into the 30’s. The divi money money still hasn’t shown itself either. What is going on here?
I’m afraid that is what I thought was the risk here. As soon as the country eases usd payments, there will be an unsuppressed rush to get money out of the country regardless of what further usd funding is secured.
The issue also is that businesses are struggling to pay for imports, meaning businesses cannot get raw materials and inflation increases as a result.
Please share other views.
Yes very odd the price hasn’t moved in weeks.
already bumping around ATL
without further IMKF support, I'd expect greater FX pressure
we won't easily see/access fdi flows but Bangladesh must be vulnerable to a run of hot money
little volume
nothing
smells whiffy
I’m afraid I’ve sold out the last few days. The new financial crisis is probably not going to help matters for the country in terms of USD liquidity. As I posted earlier, hopefully at some point the USD IMF loan feeds through and eases liquidity, but my view has become more negative as I think the country is in a difficult situation. I’ll watch now.
Jolly - I don’t know about you, but I am sorely tempted to buy some more at the correct
Jolly - I don’t know about you, but I am sorely tempted to buy some more at the current very attractive low price of 42 pence. What is holding me back is that I am at my self-imposed limit for any single entstock. Frustrating, I am telling you.
Bangladesh has just received a $5bn loan from IMF in order to alleviate the USD shortage in country caused by the Ukraine conflict such as high fuel costs last year. Once this cash works through the system it should allow USD restrictions to ease. Additionally fuel costs are lower so hopefully the country can resume its recovery.
You will get your dividend, just delayed by a few weeks. BXP has the money transferred to the New York bank which handles the pay-out to the shareholders, just be patient.
That the GDR’s are not allowed in an ISA has nothing to do with the respectability or reliability of BXP.
Whatever way you look at it the dividend not being paid is not good; nor is the apparent inability to buy this is an ISA.
Sales will turn increasingly global on lower pricing.
maybe...its sales are largely domestic...perhaps some import substitution possible
Jolly - Should the Taka devalue (unlikely), then BXP’s profits will soar, exports will rise out of the pan. BXP is globally recognised as an excellent company, well managed, well respected, growing faster than most, trading internationally, no FX problems. Investors on the Dhaka stock exchange are happy to pay more than twice our price for their BXP shares which differ from our shares in so far that our shares have no voting rights, Dividends precisely the same!
I cannot see any need to rush back in
This narrative of scarce fx is pretty awful for bangladesh...I'm surprised the imf has allowed this to develop...does the taka need to devalue seriously?
As long as it is not BXP holding the Dividend payment back, I see no reason to be concerned.
What is a few weeks delay in the lifespan of man/woman? The money is deposited in the New York bank, so out of BXP’s hands. No worry!
Out of BXP
Jolly, know that you been invested here before, or still are to some extent. Are you thinking of going long / adding whilst the share price is down here?
scarce FX lol
Jolly - Fixed ideas? Is that what went wrong at Woodford?
I emailed BNY Mellon a few times in February and eventually got a reply on 16/2. I have already shared the reason given for the delay in distributing the dividend. The actual reply to me was "Please note that the DR payable date for the dividend has not yet been fixed due to the low liquidity ratio for the conversion of the local currency BDT into USD. Once all the dividend monies received by the Depositary in BDT are converted into USD, we will be able to set a DR payable date for the GDR holders. A final announcement will be issued at that time to the London Stock Exchange and all market participants confirming the DR payable date."