Manipulation of shares in 2 cos by subsiding info

Staff Correspondent: According to the rules, the shareholding of listed companies increases and decreases almost every month. Especially when the share price of the company fluctuates more, the amount of shares held by the institutional and general investors of the company fluctuates more. When the share price fluctuates a lot, the shareholding of the company’s entrepreneurial directors and foreign investors also fluctuates a lot.
Analyzing the monthly shareholding data of the listed companies, this information was found.
But the shares of the two listed companies have surged in the past few months. Both the companies have taken the initiative to release dividend and profit data during this period but have not updated the shareholding data.
Allegedly, the up-to-date shareholding information of the two companies was not disclosed as a manipulation strategy. The two companies are Khan Brothers PP Baggy Industries Limited and Beach Hatchery Limited
Khan Brothers PP Bag Industries
Shareholding information as on July 31, 2023 has been disclosed by Khan Brothers PP Bag Industries Limited. Investors held 30.13 percent, institutional investors 38.02 percent and general investors 31.85 percent in the previous month on June 30, 2023.
Investors’ shares in the company were unchanged over the next month, while institutional investors’ shares were largely unchanged. As a result, institutional investment has come down to 18.92 percent as on July 31, 2023. On the other hand, the share of general investors increased from 31.85 percent to 50.95 percent.
Data analysis shows that the company’s shares were traded at Tk12.50 in July. Which goes up to Tk39 in July. Institutional investors have taken profits from the company’s shares during this period. This is why institutional investors sold 19.10 percent of the company’s shares in July. After that, the company’s share
price fluctuated widely. Last Sunday (November 12) the company’s shares closed at Tk 62. Meanwhile, the company has twice announced the date for dividend declaration. But it has not disclosed the updated information of shareholding for the last three months.
It is known that the production of the company has been stopped. Cooperation A company survives in some way by producing products. The company posted a loss of 01 paise per share in the first quarter of the financial year ended, a loss of 01 paise in the second quarter and a loss of 01 paise in the third quarter. The company posted a loss of 0.3 paise per share for the three quarters. Even so, the rumor of dividend declaration is spreading strongly in Motijheel neighborhood. Due to which the share price of the company is only flying.
It should be noted that with the approval of the regulatory body BSEC, the main stock market Dhaka Stock Exchange (DSE) has entered the field to examine the production activities of 14 companies. This includes Khan Brothers PP Bag Industries.
Beach Hatchery Limited
The said company Beach Hatchery Limited has disclosed the shareholding information till June 31, 2023. Investors held 34.97 percent, institutional investors 14.62 percent and general investors 50.41 percent as on May 31, 2023, the previous month.
As of June 30, 2023, investor shares in the company were unchanged, but institutional investors’ shares fell. During this period, the share of institutional investors decreased to 12.32 percent. On the other hand, the share of general investors increased from 50.41 percent to 52.71 percent.
Data analysis shows that the company’s shares traded below Tk 41 in June. Currently, the shares of the company are trading above Tk53.
The company has already disclosed profit and declared dividend. The company declared a 2 percent cash dividend for the fiscal year ended June 30, 2023 and posted earnings per share of 93 paise.
But the company has been closed for a long time. Because the land for its project has been acquired by the government. The company also received funds earmarked for the acquisition. But it did not tell the investors.
It also did not disclose where the profit came from. The company has been playing hide-and-seek with the regulator BSEC, stock exchanges and investors saying that investors are pointing fingers against the company. Investors have demanded the formation of an inquiry committee to investigate the company’s land acquisition and production.