The Special Tribunal on Capital Market set August 17 for delivering its verdict on the case filed in connection with unusual trading of shares of BD Welding Electrodes which took place in 2007, according to lawyers.
Humayun Kabir, Judge of the tribunal, set the date Thursday for delivering the verdict after completion of hearing and deposition.
In March 2007, the Bangladesh Securities and Exchange Commission (BSEC) formed a probe body to investigate unusual price hike of the company's shares.
The body led by the then director ATM Tariquzzaman submitted its report to the Commission on April 30, 2007.
Later, the securities regulator filed a case against BD Welding Electrodes, its Managing Director SM Nurul Islam and Enayet Karim, editor of Weekly Industry, over the allegation that they had influenced the company's share prices.
According to the BSEC probe body, unusual trading of the shares of BD Welding occurred in some brokerage firms of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
"Such trading had a connection with the news that some foreign investors may invest in the company."
The Committee found that e-mail message in connection with the investment in the company by Jeddah-based Al Awad Group was generated intentionally, the BSEC report said.
"There was no appearance of Saudi investor Al Awad Group. Those false messages influenced share price of BD Welding Electrodes," reads the probe report submitted in April, 2007.
mufazzal.fe@gmail.com
Verdict on BD Welding shares manipulation Aug 17
FE Report | Published: August 07, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like