FE Report

The securities regulator has formed a two-member inquiry committee to investigate rumours, spread through the SMSs to cell phones, about the future price movement of securities of Beximco Limited and the GBB Power, officials said.

Executive director of the Bangladesh Securities and Exchange Commission (BSEC) Saifur Rahman said the regulator has got the alleged SMSs recently spread to influence the future price movement of securities of the two companies.

"The SMSs were sent from one cell phone number. The committee will review the complaints and the SMSs," Rahman said.

The officials of the Dhaka Stock Exchange (DSE) said the SEC probe body was formed after some complaints regarding the rumours, spread to influence the future price movement of securities of the companies, were made with the BSEC.

"We are not related to the inquiry on the rumours. However, we have heard that some SMSs were sent saying that the prices of the companies will reach a certain high within a particular timeframe," he said.

On December 10 last, the market price of a share of Beximco Limited was Tk 52 and after 10 trading days, the price went up to Tk 66 on December 26.

On the other hand, the market price of GBB Power share reached Tk 34 on December 27 from the previous price of Tk 29.75 on December 13.