Dhaka, Bangladesh (BBN) - The Bangladesh Securities and Exchange Commission (BSEC) has formed an inquiry committee to probe into the ‘unusual’ transactions and price movements of the shares of three listed companies, officials said.
“The BSEC has issued an order to investigate the unusual transactions and price movements of the shares of Far Chemical Industries, Familytex (BD) and R.N. Spinning Mills,” said a disclosure posted on the Dhaka Stock Exchange (DSE) on Sunday.
Mohammad Saifur, a BSEC executive director, said the three-member inquiry committee comprising BSEC deputy director Mohammad Shamsur Rahman and two assistant directors--Mohammad Iqbal Hossain and Md. Boni Amin Khan--would submit its report within 30 working days.
“The investigation committee will also look into the companies’ financial statements to complete the investigation,” Rahman said.
According to information of the Dhaka Stock Exchange (DSE), the shares of Far Chemical Industries were traded at BDT 29.30 on April 4. On May 11 the price declined to BDT 22.50 and later the company’s share price rose gradually and stood at BDT 30.90 on June 8. Later, the price fell to BDT 28.30 on June 22.
The market price of the shares of RN Spinning was above BDT 25.40 on April 7. Later, the company’s market price stood at BDT 24.20 on May 10. Afterwards, the price gradually declined and stood at BDT 18.10 on June 22 last.
The shares of Familytex (BD) were traded at BDT 10.5 on March 20 and at BDT 8.6 on May 15. Later, on May 26 the price rose to BDT 9.7 and later declined to BDT 8.9 on June 22.
BBN/SSR/BB