Probe report on GP share scam submitted
Tuesday, 30 March 2010
FE Report
The committee, formed by the securities regulator to probe into the unusual rise in the price of shares of the country's giant telecom operator Grameenphone (GP) in the last week of January, submitted its report Monday, officials said.
The Securities and Exchange Commission (SEC) Chairman, Zia-ul Haq Khandakar, said that the report was under study.
A surveillance team of the SEC collected information about GP's share price, trade volume and margin loan from six brokerage houses as each GP share, which has a face value of Tk 10, jumped 10.21 per cent to Tk 278.40 on Dhaka Stock Exchange on January 25.
On January 27 the SEC formed the committee to investigate into the unusual price hike of the GP shares.
The investigation period was extended up to March 28 as the body failed to submit its report within the stipulated time of March 20.
The committee, formed by the securities regulator to probe into the unusual rise in the price of shares of the country's giant telecom operator Grameenphone (GP) in the last week of January, submitted its report Monday, officials said.
The Securities and Exchange Commission (SEC) Chairman, Zia-ul Haq Khandakar, said that the report was under study.
A surveillance team of the SEC collected information about GP's share price, trade volume and margin loan from six brokerage houses as each GP share, which has a face value of Tk 10, jumped 10.21 per cent to Tk 278.40 on Dhaka Stock Exchange on January 25.
On January 27 the SEC formed the committee to investigate into the unusual price hike of the GP shares.
The investigation period was extended up to March 28 as the body failed to submit its report within the stipulated time of March 20.