Unusual price rise of Z-category shares

FE Report The securities regulator has asked Dhaka Stock Exchange (DSE) to investigate the recent unusual price hikes of some specific 'Z' category shares. The regulatory move came to protect the innocent investors from possible crash. The Securities and Exchange Commission (SEC) Sunday sent a letter to DSE to identify the major buyers, sellers and brokers involved with the trading of some 'Z' category shares, whose prices recently went up alarmingly. "The regulator is concerned over the recent usual price hike of some 'Z' category shares," an SEC official told the FE. The official said that in response to DSE queries, the companies only informed that there was no undisclosed price sensitive information behind recent unusual price hikes. "But their prices are going up alarmingly." In March, 2011, the DSE asked about 40 'Z' category companies to inform whether there was any price sensitive information, which pushed the shares prices up. The SEC official also said the regulator does not want to carry on a mass investigation on all 'Z' companies, as the investors' confidence might be affected following the investigation.