The Dhaka Stock Exchange on Wednesday halted trading of Rahima Food due to unusual hike in share prices. The DSE management suspended trading of the company at 10:34 am, just four minutes after the start of day’s trading. DSE officials said that the trading of the company would resume Thursday.
The shares of Rahima Food, which were traded at Tk 16.60 on August 15, increased to Tk 43.20 on Wednesday, advancing by Tk 26.60 within last 30 trading sessions.
This was the second move by the DSE to halt trading as the bourse on Tuesday suspended the trading of CVO Petrochemical Refinery Limited because of unusual price hike.
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 Monday although the company did not have any price sensitive information.
The trading of the company’s share remained suspended on Wednesday.
The Bangladesh Securities and Exchange Commission in mid-September launched a probe against CVO Petrochemical, Mithun Knitting, Tallu Spinning and Bangas for the unusual hike of share prices.
-With New Age input
