DSE to scrutinise financial statement of Coppertech

FE Report | Published: May 10, 2019 10:03:27 | Updated: May 20, 2019 11:11:06

The Dhaka Stock Exchange (DSE) has decided to scrutinise the financial statement of Coppertech Industries, now awaiting listing on the country's bourses.

The decision came at a board meeting of the premier bourse on Thursday following a plea made by the DSE Brokers Association of Bangladesh (DBA).

"The meeting has asked the DSE management to prepare a report on the anomalies in the financial statement of Coppertech Industries. The report will be submitted before the company's listing," Md Rakibur Rahman, a DSE director, said after the meeting.

In a letter sent to the DSE, the DBA raised concern about some anomalies in the financial statement of the company.

"The media reports on 'anomalies' of Coppertech is very alarming for the market and investors as well," the DBA said in the letter.

In this connection, investors are raising question about DSE's role, the letter said.

The DBA also urged the DSE to remain careful so that no wrong information about the listed companies is posted on the DSE website.

The DBA also called on the DSE to look into the issues and take necessary measures to protect the interest of the market as well as investors.

The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Coppertech Industries on December 26, 2018, to raise a capital of Tk 200 million under the fixed-price method.

The company has already held the IPO lottery draw to select successful general shareholders.

The company, however, is yet to apply for listing on the stock exchanges.


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