Monno under BSEC scanner | The Daily Star
12:00 AM, September 19, 2019 / LAST MODIFIED: 12:28 AM, September 19, 2019

Monno under BSEC scanner

The Bangladesh Securities and Exchange Commission (BSEC) yesterday asked Dhaka Stock Exchange (DSE) to investigate alleged manipulation of stocks of Monno Jute Stafflers and Monno Ceramic Industries.

The stock market regulator also directed the Dhaka bourse to send the probe report on the two low-cap companies’ stocks within the next 14 working days.

The stocks of Monno Jute Stafflers rose 196 percent to Tk 2,032 in the last one and a half months till September 11 while that of Monno Ceramic Industries 85 percent to Tk 237.

The paid-up capital of Monno Ceramic and Monno Jute is Tk 32 crore and Tk 2.07 crore respectively.

The BSEC yesterday also approved a proposal that seeks to issue floating rate subordinated bonds of Standard Bank worth Tk 500 crore.

The tenure of the fully redeemable non-convertible bonds will be of seven years. The fund will be raised to strengthen the bank’s Tier 2 capital base. The offer price of the bonds will be Tk 1 crore per unit.

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