BSEC rejects Infinity Technology's IPO | The Daily Star
12:00 AM, March 25, 2019 / LAST MODIFIED: 12:13 AM, March 25, 2019

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BSEC rejects Infinity Technology's IPO

The stock market regulator has rejected the proposal for initial public offering (IPO) of Infinity Technology International, as the company sought permission to issue bonus shares before getting go-ahead for the IPO, which is a breach of law.

On April 12 last year, Infinity applied for issuance of 3 crore shares worth Tk 30 crore and sought approval on February 6 this year to raise Tk 9 crore in capital by issuing bonus shares to existing shareholders.

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