SEC fines two cos for irregularities
Wednesday, 15 October 2014
Bangladesh's capital market regulator, the SEC, has fined two listed companies for financial irregularities. Argon Denims has been slapped a Tk 3-million fine for irregularities in using the capital raised through the initial public offering (IPO). Salvo Chemicals, on the other hand, will have to pay Tk 0.5 million for not using the IPO money. A media statement from the regulators declared Argon Denims ineligible for raising capital over the next three years, according to a news agency.