Legacy Footwear Limited Monday informed the Dhaka Stock Exchange (DSE) in a query that there is no undisclosed price sensitive information (PSI) of the company for recent unusual price hike of shares.
Within one month, the company’s share price jumped 22 per cent or Tk 10.90 each to close at Tk 61.10 per share on Sunday. Following the abnormal price hike, the DSE served show-cause notice on the company.
“We would like to inform that we have no undisclosed material decision/information relating to our company’s operation/profitability that might have impact on trade of the shares,” the company said in a disclosure posted on DSE website on Monday.
“We would also like to inform that we have no information which would cause upward trend of our company’s trading volume of shares increased considerably in recent period especially on Sunday,” the disclosure added.
Furthermore, they would like to add that the production of the company remained suspended due to maintenance till 10th January, 2018. Therefore, they request the shareholders to assess actual situation before they make any investment.
The company’s production remained suspended since November 6, 2017 due to repairing of factories and maintenance of machinery and other civil works.
However, recently the company has been promoted to ‘A’ category from ‘Z’ category.