A Dhaka Stock Exchange team on October 9 had found that the production of Rahima Food, a listed company with the DSE, was closed. A DSE web post release on Wednesday also said that the trading of the company will resume today following its corporate declaration for the year ended on June 30 this year. DSE on September 25 halted trading of Rahima Food following unusual hike in its share price and launched an investigation to this end.
The DSE team had visited the factory as part of the investigation.
The shares of Rahima Food, which were traded at Tk 16.60 on August 15, increased to Tk 43.20 on September 25, advancing by Tk 26.60 within 30 trading sessions.
The DSE on the same day suspended the trading of CVO Petrochemical Refinery on the same ground.
CVO Petrochemical’s shares were traded at Tk 89.6 each in April this year but the price increased to Tk 634.7 by the end of August and closed at Tk 867.70 on September 23, although the company did not have any price sensitive information.
The BSEC in mid-September had launched a probe against CVO Petrochemical, Mithun Knitting, Tallu Spinning and Bangas for unusual hike of shares prices, but no actions have been taken yet.
-With New Age input
