The securities regulator has extended the suspension period of trading of the shares of three companies—Monno Jute Stafflers, BD Autocars and Legacy Footwear—by 15 days.
“The Bangladesh Securities and Exchange Commission (BSEC) has further extended the suspension period of the trading of shares of Monno Jute Stafflers, Bangladesh Autocars and Legacy Footwear for further 15 days with effect from September 18, 2018,” said a DSE web posting on Tuesday.
The BSEC also issued an order in this connection.
The order said that the commission was in the opinion that it was necessary in the interest of trade and in the public interest to extend the suspension period of trading of shares of the three listed companies and directed the Dhaka and Chittagong stock exchanges to extend the suspension period by 15 days with an effect from September 18.
Earlier, on August 16, the market regulator suspended trading of the shares of Monno Jute Stafflers, BD Autocars and Legacy Footwear for 30 days following a spate of criticisms over lack of action from the market regulator in reigning in the unusual price hike of the companies.
On the same day, it also sent five other companies — Monno Ceramic Industries, Key&Que, Aziz Pipes, Stylecraft and Dragon Sweater and Spinning — to the spot market for the unusual and astronomical hike in the prices of their shares.
However, the shares of Dragon Sweater were put back on the public market from the spot market on September 06.
The share prices of Monno Jute Stafllers rose by 500 per cent to Tk 5,640, Legacy Footwear by 380 per cent to Tk 263 and BD Autocras by 300 per cent to Tk 436 within a couple of months sans price sensitive information before the trading suspension.
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