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DSE to Investigate Abnormal Trading and Price Movement of Amra Technologies Shares

Staff Correspondent

The Dhaka Stock Exchange (DSE), the country’s premier bourse, has launched an initiative to investigate the unusual price movement and trading pattern of Amra Technologies shares. The Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, has instructed the DSE to conduct the investigation into the abnormal price surge and trading activities.

According to the regulator’s directive, the DSE must complete the investigation and submit a detailed report to the Commission within the next 30 working days.

The BSEC took notice of the sharp movement in Amra Technologies shares after the company’s share price rose by 108 percent over a five-month period, reaching Tk 23.10 by August 9. The share price, however, began to decline afterward.

The BSEC has provided the DSE with specific terms of reference for conducting the investigation.

As part of the probe, the DSE has been instructed to examine whether there was any coordinated market manipulation, artificial trading or other unlawful activity among investors. The investigation will also look into possible insider trading, including the misuse of undisclosed price-sensitive information.

The DSE will further review whether the relevant stockbrokers, dealers and authorised representatives properly complied with margin-related regulations, various orders, circulars and directives issued by the regulator.

The investigation will also determine whether any brokers or dealers played a role in, or were responsible for, the abnormal increase in Amra Technologies’ share price and unusual trading activities.

The BSEC has also instructed the DSE to take necessary steps to raise awareness among authorised representatives, compliance officers and chief executives of brokerage houses about the need to promptly report any unusual price movement or suspicious trading activity to the regulator.

Meanwhile, the auditor of Amra Technologies, a company listed under the ‘Z’ category, has identified several irregularities in the company’s financial statements for the 2025 financial year.

According to the auditor, sufficient and appropriate audit evidence could not be obtained to verify the completeness and accuracy of outstanding and other payable amounts involving the Bangladesh Telecommunication Regulatory Commission (BTRC) and Bangladesh Telecommunications Company Limited (BTCL), as external confirmations were not received.

As a result, the auditor was unable to determine whether any adjustments to the financial statements were necessary.

The audit report also stated that the company had not deposited applicable dividend tax with the relevant tax authority.

In addition, the company did not properly deduct applicable taxes and value-added tax (VAT) on various purchases throughout the financial year, as required under prevailing tax laws in Bangladesh.

The auditor said that the failure to recognise the related tax liabilities in the financial statements had resulted in material misstatements in the company’s financial reporting.