Bangladesh Securities and Exchange Commission (BSEC) fined three companies a total of Tk15 lakh for breaching initial public offering (IPO) rules.
Issuer company Aman Cotton Fibrous Ltd and two issue mangers - Lanka Bangla Investments and Unicap Investments – faced Tk5 lakh each as fines.
The companies had submitted false documents to seek IPO approval, said A BSEC statement said yesterday.
The two issue mangers paid the price as they did not submit the IPO prospectus of the issuer with due diligence, the stock regulator said.
