Dhaka Stock Exchange suspended yesterday the trading of Saleh Carpet, a listed company belonging to Z category, on finding some irregularities in the company.
Even the company has not been running any corporate office since 2003 and not submitting any financial report to the bourse or the capital market regulator since 2002, according to the DSE probe report. The report will be posted on the bourse website today.
Saleh Carpet owes Tk 472 crore to Bangladesh Shilpa Bank, Bangladesh Shilpa Rin Sangstha, Investment Corporation of Bangladesh and Sonali Bank.
But the share prices of the company, of which accumulated loss stood at Tk 104.7 crore as of December 31, 2001, marked a constant rise for the last two weeks without any reason or having any corporate declaration. Yesterday price of each Saleh Carpet share rose as high as Tk 4.20, which was Tk 2.30 on August 25. Face value of each share is Tk 10.
This abnormal price jump forced the DSE to stop the company's trade. The probe body officials of the prime bourse did not find the company's latest position in details.
Saleh Carpet, which now runs with only 5 percent of its machinery in operation, sells its products only in Chittagong.
As per DSE record, the company submitted its last audited accounts for the year 2001, where it reported net loss of Tk 12.86 million with earning per share of Tk -2.10.
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