Sea Pearl, Sonali Paper see big transactions in block market

Sea Pearl Beach Resort and Spa, and Sonali Paper and Board Mills saw big transactions in the block market of the Dhaka Stock Exchange (DSE) on Monday.

Out of Tk71.14 crore traded on the block market, around 43% or Tk30.58 crore trade was of the two companies.

A total of 57 scrips were traded on the block market.

A block trade is a large and privately negotiated securities transaction. Block trades can be made outside the open market through a private purchase agreement.

In the DSE, a block trade is defined as a trade worth Tk5 lakh or more in market value.

As the trades are large, the trades are executed through a contract between a buyer and a seller.

When stock trade in the main board was quite lower after imposing the floor price in July last year, the Bangladesh Securities and Exchange Commission (BSEC) relaxed buying and selling of shares up to 10% lower than the floor price to boost big transactions in the block market in November.

After that, large investors got an opportunity to buy-sell shares at a price 10% lower than the floor price.

On Monday, Sonali Paper and Board Mills' 2.73 lakh shares were traded, worth Tk16.76 crore, where the maximum share price was Tk650 and the minimum price was Tk572.10 each.

Sea Pearl Beach Resort's 5.01 lakh shares were traded on the block market worth Tk13.82 crore, where the maximum and minimum range was Tk315.90 and Tk265.20 respectively.

On Sunday's trading session, a total of Tk93.61 crore was traded on the block market, of which Sea Pearl Beach Resorts' trade was Tk56.73 crore, of which maximum and minimum price was Tk280 and Tk251 respectively.