BSEC tells Dhaka bourse to investigate rapid rise of Orion Infusion shares
Its share price soared 993% in just three and a half months
The Bangladesh Securities and Exchange Commission (BSEC), on Wednesday, instructed the Dhaka Stock Exchange (DSE) to investigate the rapid rise of Orion Infusion Ltd shares.
The Dhaka bourse will submit its investigation report to the BSEC within 20 working days.
In a letter to the managing director of DSE, the securities regulator said it saw an unusual movement in the price and volume of Orion Infusion shares being traded.
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To protect the interest of investors, the BSEC deems it necessary to conduct an investigation to identify market manipulation attempts, if any.
The DSE has also been instructed to check if any insider trading, other malpractice, or fraudulent activities took place in the trading of the company's shares.
The investigators will also review the company's recent unaudited and audited financial statements.
Orion Infusion shares soared to Tk951 per share on the DSE on Thursday, from Tk87 at the end of June this year.
