News Briefs--(10-04-2018)

BSEC fines Wata Chemicals MD

Bangladesh Securities and Exchange Commission (BSEC) has imposed a fine of Tk. 0.5 million to Md. Nazrul Islam, Managing Director of Wata Chemicals Ltd, for violation of Section 3(1) and 4(1) of the Securities and Exchange Commission (Prohibition of Insider Trading) Rules, 1995 and also section 18 of Securities and Exchange Ordinance, 1969.

— CSE Online

Suspension of IPO subscription

Indo-Bangla Pharmaceuticals Ltd. has informed that their IPO application procedure has been stayed by the High Court Division of the Supreme Court. As such, the IPO subscription period of the company has been deferred until the settlement of the stay order.

— CSE Online

MJL Bangladesh to invest more in OPL

The board of directors of MJL Bangladesh Limited has decided to invest an additional amount of Tk 785,156,250 only in Omera Petroleum Limited (OPL) against issuance of right shares at Tk 25 each, including a premium of Tk 15, as a majority shareholder with 62.50 per cent stake in the OPL's.

— DSE Online

IPDC Finance credits bonus shares

The bonus shares of IPDC Finance Limited for the year ended on December 31, 2017 have already been credited through central depository Bangladesh Limited (CDBL) to the respective shareholders' BO Accounts on April 01, 2018. Sale proceeds of fractional bonus shares will be distributed to the respective shareholders' Bank Accounts through BEFTN system shortly.

— CSE Online