BSEC declared the decision at a meeting presided over by its chairman M Khairul Hossain, according to a press release. Previously, in June 2015, BSEC had slapped a fine of Tk4.82 crore on nine business entities and two individuals for their involvement in the abnormal rise of share prices of SPCL. After around four years, BSEC fined Star Share Bazar Tk1 crore, Golam Mostofa Tk80 lakh and Nasima Akter Lata Tk50 lakh, exempting them all lawsuits. BSEC said that the entity and the two investors for serial trading and created an abnormal hike in prices of SPCL's shares. Prices of SPCL shares had increased to Tk338.8 in December 2014 from its debut with Tk25 on July 15 in the same year.

Source: Dhaka Tribune February 13, 2019 15:45 UTC