The regulator of the capital market of Bangladesh, the Bangladesh Securities and Exchange Commission or BSEC, has on Monday suspended trading of the shares of Beximco Synthetics Limited.
According to media reports, the BSEC move followed application by the concerned entity for delisting its shares from the stock exchanges.
Subsequently, the BSEC reportedly issued letters to the Chittagong Stock Exchange and the Dhaka Stock Exchange to suspend trading of the company’ shares.
According to reports, Beximco Synthetics Limited is a member of the BEXIMCO Group, the principal activity of which is manufacturing of Polyester Filament Yarn namely, Partially Oriented Yarn (POY) and Draw Texturized Filament Yarn (DTFY).
As per the Executive Director and spokesperson of BSEC, Rezaul Karim, it was the first time that any entity wanted to delist its shares voluntarily.
Beximco Synthetics Limited had recently applied to the commission, seeking the delisting, underlined reports adding the company’s sponsor-directors would buy shares from the general investors.
