Bangladesh asks company owners, directors to raise stake to 30%

Founders, owners and directors of listed companies in Bangladesh must own at least a combined 30 percent stake, the nation's market regulator said.

The rule announced today by the country's Securities and Exchange Commission requires the condition to be met within six months, Saifur Rahman, executive director of the SEC, told reporters in Dhaka today.

The Dhaka Stock Exchange's benchmark General Index surged 5.2 percent to 5,596.96 at close today, its highest level since Oct. 23, data compiled by Bloomberg show.