The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has recently identified suspicious transactions in the shares of GQ Ballpen Industries Limited, which is listed on the stock exchange. In this regard, the company has formed a two-member investigation committee to look into the issue of share transactions. Besides, the commission has also decided to seize and  suspended BO accounts of 9 individual investors and GQ Ballpen.

The other member of the committee headed by Shahidul Islam is the head of the application support department of the Central Depository of Bangladesh Limited.

When asked, BSEC Executive Director (Current Responsibilities) and Spokesperson Mohammad Rezaul Karim told Business Mirror that the commission has come to the notice of suspicious transactions regarding shares of GQ Ballpen. For this reason, the commission has formed an investigation committee to look into the matter. The committee has been asked to submit a report within 30 working days. He also said that 10 BO accounts containing huge shares of the company have been seized.

Of the 10 BO accounts seized, nine were from three investors. Another is the suspended BO account of GQ Ballpen. There are about 20 lakh shares in this account, where the total number of shares of the company is 69 lakh.

According to the Dhaka Stock Exchange, on July 7 this year, the share price of GQ Ballpen was Tk 8.10 p. The latest share price of the company stood at Tk 240.30 yesterday. The company’s share price has risen 274 percent in two months.

Entrepreneurial managers hold 41.8% of GQ Ballpen, which was listed on the stock exchange in 1986. Moreover, the company has 1.46 percent, foreign 0.5 percent and general investors have 56.60 percent shares.