The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has formed an inquiry committee to look into the reasons for the abnormal rise in the share price of the newly listed Associate Oxygen Limited. The commission has asked the two-member committee to submit a report within the next 15 working days after examining the reasons for the increase in the company’s share price, including manipulation and insider trading.
An office order signed by BSEC Assistant Director Nannu Bhuiyan on Monday, November 9, said the committee had been set up to look into the matter as the BSEC had come to its notice. Sheikh Mahbubur Rahman, director of the regulatory body, has been made the head of the committee. Another member of the committee is Warisul Hasan Rifat, assistant director of the company.
The share price of Associate Oxygen Limited has been rising day by day since the beginning of the transaction. On October 25, the company traded on the stock market at a price of 10 rupees. After that, in 11 working days, the share price of the