The Bangladesh Securities and Exchange Commission on Sunday directed the Dhaka Stock Exchange to investigate the sudden rise in the share prices of Khan Brothers PP Woven Bag Industries.
The BSEC sent a letter on the day to the DSE’s chief regulatory officer, asking for a detailed report to be submitted within 30 working days.
The stock market regulatory body expressed concern over unusual price and trading volume changes in the company’s shares, describing them as suspicious.
The BSEC also instructed the DSE to notify the authorised representative concerned, compliance officer or CEO of the brokerage firm immediately if any suspicious trading activities are detected.
According to the directive, the investigation will focus on potential market manipulation, insider trading, or other irregularities causing the unusual stock movement.
Shares of Khan Brothers PP Woven Bag Industries were traded at Tk 78.4 till the end of the trading session on August 25. Since then, the share prices surged by Tk 98.1 in 14 trading sessions to stand at Tk 176.5 at the end of the trading session on Sunday.
