BSEC rejects Western Marine Shipyard’s rights offer

Bangladesh Securities and Exchange Commission (BSEC) has rejected the rights share proposal of Western Marine Shipyard Ltd.

The BSEC issued a letter on September 14 regarding this.

The Dhaka Stock Exchange (DSE) confirmed the information on its website Tuesday.

According to sources in the BSEC, the largest shipbuilder company of the country failed to meet the regulatory requirements of submitting several documents and explanations to the BSEC on time, even after extending the submission deadline twice.

Which is why the regulatory body decided to reject its rights share proposal and sent a letter to the company in this regard.