Except for its four BO accounts, the Bangladesh and Securities Exchange Commission (BSEC) has lifted an embargo on Associated Oxygen Ltd’s pre-IPO shares.
The Bangladesh Securities and Exchange Commission (BSEC) has asked the Central Depository Bangladesh Limited (CDBL) to make the company’s pre-IPO shares, also known as placement shares, lock-free.
Hasan Yousuf Chowdhury, Universal Equity Management, Bengal Assets Holdings, and NRB Equity Management Ltd are the four benefit owner (BO) accounts that possess 98 lakh shares in the firm.
The BSEC halted the pre-IPO shares after receiving claims of irregularities against the company, according to a top BSEC official who did not want to be identified.
The BSEC noted that the issue has arisen among the four BO accounts, but that all pre-IPO owners are affected. The commission decided to make the company’s shares lock-free in the benefit of other investors, he noted.
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