Sonargaon Textiles trading halted over unusual price surge
According to a disclosure published on the stock exchange website, trading of the company's shares was halted for the rest of the day today, due to an abnormal price hike coupled with a significant rise in share turnover.
The Dhaka Stock Exchange (DSE) suspended shares trading of Sonargaon Textiles Ltd today (15 June) following an unusual increase in both its share price and trading volume.
According to a disclosure published on the stock exchange website, trading of the company's shares was halted for the rest of the day today, due to an abnormal price hike coupled with a significant rise in share turnover.
According to data from the DSE, today, the share price of loss-making Sonargaon Textile surged 9.92% to Tk87.50 each.
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On 10 May, Sonargaon Textile's share price was Tk33.9 each. Since then, its share price has gradually surged despite having no price-sensitive information.
Similarly, trading in Shyampur Sugar Mills resumed on the Dhaka Stock Exchange yesterday (14 June) after a one-day suspension imposed over an unusual surge in the company's share price, with the stock falling 8.75% to Tk218 following the reopening.
The DSE had suspended trading in the company's shares on Thursday, citing its regulatory authority to intervene in cases of abnormal price movements or suspicious trading activity in order to protect investors and ensure fair price discovery.
