Dhaka, Bangladesh (BBN)-The share trading of FAR Chemical Industries will commence at both bourses from Tuesday under the ‘N’ category, officials said.
The officials of the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) confirmed the date of the company’s debut trading.
Using fixed price method, the FAR chemical floated 12 million ordinary shares at an offer price of BDT 10 each and raised a fund worth BDT 120 million from public.
On January 21 last, the securities regulator - Bangladesh Securities and Exchange Commission (BSEC) - approved the IPO (initial public offering) proposal of FAR Chemical Industries.
But later, the securities regulator was informed that it earlier filed criminal case against the company’s two directors for their involvement with the forgery of rights shares of RN Spinning.
The information regarding the criminal case was not mentioned in the prospectus of the FAR Chemical.
In this connection, the securities regulator then said that the debut trading of the Far Chemical Industries will not be hampered and the responsible company persons will be served show cause notice for concealing information regarding the criminal case.
BBN/BB/AS-07July14-10:50am (BST)