'Unusual' price hike of Imam Button

Imam Button Industries, a 'Z' category company continued to witness 'unusual' price hike despite there is no undisclosed price sensitive information (PSI) behind such price movement.
The company's share price jumped 38.59 per cent in last six sessions in a row and closed at Tk 85.10 each on Thursday.
Meanwhile, Dhaka Stock Exchange (DSE) has made query on the company's abnormal price and increase in volume of shares.
In its response, the company on Thursday informed there is no undisclosed PSI for recent unusual price hike and increase in volume of shares.
On May 25, the share price of Imam Button closed at Tk 61.40 each on the premier bourse DSE.
On Thursday, the company's share price closed at Tk 85.10 each with a rise of 38.59 per cent or Tk 23.70 from the price observed on May 25.
The company's exhibited another price hike since May 10 to May19 and during the period the company's share price advanced 22.36 per cent or Tk 11.9.
As a result, the share price of Imam Button advanced 60 per cent or Tk 31.90 during May10-June 2, 2022.
Imam Button Industries, presently the 'Z' category company, was listed with the stock exchanges in 1996.
The company's sponsor-directors hold 30.08 per cent shares, institutes 9.01 per cent and general investors 60.91 per cent as on April 30, 2022.

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