Dhaka Stock Exchange yesterday suspended the trading of Pharma Aids for an indefinite period, as the firm barred bourse officials from inspecting the factory premises. DSE also served notice on the company, seeking an explanation as to why it did so.
In a web posting, DSE said Pharma Aids did not allow bourse officials to conduct an inspection at the factory premises recently as part of the bourse's regular activities. “The issuer has failed to comply with its continuing obligations in respect to listing regulations by preventing the exchange from carrying out its essential work to protect the greater interest of investors,” the DSE said.
DSE officials said the recent price hike in the shares of Pharma Aids prompted the bourse management to inspect the factory premises. The price of each Pharma Aids share rose by around 15 percent last month, before closing at Tk 181.3 on Tuesday. Pharma Aids was listed on the stockmarket in 1987.