FE Report
The securities regulator has asked Dhaka Stock Exchange (DSE) to look into abnormal price hike of four companies which were shifted to main board from over-the-counter (OTC) market.
The Bangladesh Securities and Exchange Commission (BSEC) on Monday sent a letter to Dhaka Stock Exchange (DSE) in this regard.
"The DSE has also been asked to find out whether there were any foul play behind the companies' abnormal price hike. The DSE will have to submit a report within 15 days," said Mohammad Rezaul Karim, a BSEC spokesperson.
The companies which saw abnormal price hikes are Bangladesh Monospool Paper Manufacturing Company, Paper Processing and Packaging, Tamijuddin Textile Mills and Monno Fabrics.
These companies were shifted to main board from the OTC market in June, 2021.
On the day of resuming trading at main board, the share price of Bangladesh Monospool Paper Manufacturing Company closed at Tk 55 each, while the share price of Paper Processing and Packaging closed at Tk 17.60 each, Tamijuddin Textile Mills at Tk 13.20 and Monno Fabrics at Tk 11 each.
Following the recent price hikes, the share price of Paper Processing and Packaging rose to Tk 215.90 each, Tamijuddin Textile Mills to Tk 180.40 each and Monno Fabrics to Tk 29.90 each on Monday.
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