The Bangladesh Securities and Exchange Commission has allowed the Dhaka Stock Exchange to conduct inspection of business affairs of another four ‘Z’ category companies.
The BSEC on Wednesday permitted the country’s premier bourse to investigate the affairs of ICB Islamic Bank, Information Services Network, United Airways and Beach Hatchery.
The DSE on July 14 requested the market regulator to permit the bourse to inquire into the business affairs of the four companies.
Earlier on August 13, the premier bourse requested the commission to permit it to conduct inspection of the companies including their head offices or factory premises, DSE officials said.
Under the BSEC permission, the DSE will investigate the operational status and connected issues of the companies, they said.
ICB Islamic Bank and Information Services Network were among the 15 companies the DSE were reviewing financial condition.
The other 13 companies are Meghna Pet Industries, Meghna Condensed Milk Industries, Imam Button, Kay and Que, Savar Refractories, Dulamia Cotton Spinning Mills, Samata Leather Complex, Shyampur Sugar Mills, Zeal Bangla Sugar Mills, Beximco Synthetics, Jute Spinners, Shinepukur Ceramics and Sonargaon Textiles.
The DSE had completed inspection of the 13 companies and submitted reports to the commission.
The issuers failed to declare dividend (cash or stock) for a period of five years from the date of declaration of last dividend or the date of listing with the stock exchange.
Later, the DSE added 15 more companies to conduct inspection and United Airways and Beach Hatchery were among them.
The DSE will also seek BSEC permission to inspect the other 13 companies soon.
Operations of most of the 30 companies were shut while some companies are partially active.
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