The Bangladesh Securities and Exchange Commission (BSEC) has instructed the Dhaka Stock Exchange (DSE) to thoroughly examine 23 Z-category companies that have failed to yield returns for investors over time. These firms, including Alltex Industries, Appollo Ispat Complex, Aramit Cement, and others, face scrutiny due to prolonged underperformance and regulatory non-compliance. Concerns about market manipulation due to these firms leading to losses for traders and the retreat of clean investors have been raised by anonymous stockbrokers.
Despite grappling with production challenges and financial issues, some of these companies paradoxically led the gainers’ list. The BSEC official highlighted the companies’ struggles with regulatory compliance and dividend declaration. The DSE will inspect them and report back for necessary action. Notable examples include Appollo Ispat Complex, which struggles post-IPO, and Nurani Dyeing and Sweater, embroiled in a fraudulent scheme. People’s Leasing and Financial Services, after a four-year halt, resumed trading, reflecting ongoing market challenges. The DSE’s inspection report will guide further regulatory actions.
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