DSE to release Tk 6cr raised by Coppertech

The Dhaka Stock Exchange (DSE) yesterday decided to comply with a regulatory order to release Tk 6 crore raised by Coppertech Industries from the institutional investors through initial public offering.

The premier bourse had initially decided not to incorporate the entity as a listed company over allegations of providing false information in the financial statement.

But by that time the company had already issued 2 crore shares worth Tk 20 crore, of which Tk 6 crore was still with the DSE.  

The Bangladesh Securities and Exchange Commission has ordered the premier bourse to hand over the money to the company on the grounds that the maximum period the money could stay with the DSE was almost over. The Chittagong Stock Exchange has already decided to name it as a listed company.