Debut trading of Far Chemical remains unhurt

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 earlier filed against two directors of the company, officials said.
The officials of the Bangladesh Securities and Exchange Commission (BSEC) have said the company will also give a disclaimer stating that they concealed information in the prospectus.
"The issuer and issue manager will be issued show cause notice for hiding key info in the company's prospectus. At the same time, the company will have to give a disclaimer on the violation of the securities regulator. But the company's trading will not be hampered considering the interest of shareholder," said BSEC Executive Director Mohammad Saifur Rahman.
The securities regulator approved the IPO (initial public offering) proposal of the Far Chemical Industries on January 21 last and meanwhile both the bourses have also approved the listing of the company.
But later, the securities regulator revealed that it earlier filed criminal case against two directors of the Far Chemicals Industries for their involvement with the forgery of Rights shares of RN Spinning.
But the information regarding the criminal case was not mentioned in the prospectus of Far Chemical.
By going through the company's prospectus it has also been found that the Far Chemical Industries has not mentioned the date of publication of the prospectus.