Rahima Food PSI creates confusion

Dhaka,  Sat,  03 December 2016
Published : 18 Oct 2016, 21:37:36

Rahima Food PSI creates confusion

FE Report


The dissemination of price sensitive information (PSI) of Rahima Food Corporation was delayed Tuesday by exchanges over some 'confusions', officials said.

The company held its board meeting on October 16 and at the meeting gave consent to the proposal of transferring above 10.59 million shares by some sponsors and deposed directors of the company to M/S City Sugar Industries.

On October 13, in response to a DSE query regarding change of ownership of Rahima Food Corporation, the company said, "There is no such information known to us as yet on the above mentioned matter."

On Monday, the DSE repeated the company's reply to their query on the DSE website.

But on Monday afternoon, the company sent a PSI regarding transferring shares to M/S City Sugar Industries and the information was uploaded on DSE website on Tuesday (yesterday).

A top DSE official said after receiving the company's reply to their query, the Rahima Food Corporation delivered the PSI regarding transfer of shares on Monday afternoon.

"That's why confusion was created and the premier bourse tried to be sure whether the PSI is right or wrong. That's why the PSI was not uploaded on Monday," the DSE official said.

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