THE EXCHANGES WOULD BE AS PER THOSE POLICIES.”
It took him three days to come up with new guidelines regarding stock trading. As per the new guidelines, he mandated that the trading of shares would be possible with a minimum holding period of 365 days. He also devised a formula for calculation of the price of a share in a company. As per his formula, he did away with any premium on a share’s value. He fixed the value of a share in a company during the initial offering as ten units of the currency in which the capital is to be raised. That meant that every share debuting on the bourses was to open at a standard rate of 10 per share. Then, as per his policy, the price of a share was to be decided by the exchange on a quarterly basis depending on the financial reports provided by the company for that quarter. The shares were to be bought or sold only at that fixed price and not at any other price. He released those mandates with the message that those guidelines were meant to prevent profiteering by a few individuals and corporations at the cost of the masses. He also made it mandatory for the companies offering their shares for sale in the open market to dilute at least fifty percent of the total number of shares in the company. Along with his control of the stock markets, he had taken control of the Commodity trading markets as well and he released new policies for them as well. As per the new policies, he allowed trading for all commodities only for actual physical sales and not for virtual trades involving no actual transfer of any goods. The trading was divided into two categories, International Trade and Domestic trade. For International trades, the trading was limited
