Olympic Industries share prices down 10.87%

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This comes immediately after a Department of Narcotics Control raid at a Dhaka residence of Aziz Mohammad Bhai, one of the directors of Olympic Industries.

The company’s share prices fell by 4.73% or Tk8.3 on Tuesday. Each share of the company closed at Tk165.60, from Tk175.3 on Monday.

Requesting anonymity, a stock broker said the company’s share prices tumbled after the raid.

Meanwhile, Bangladesh Bank on Monday asked all banks to freeze the accounts of Aziz Mohammad for 30 days.

According to sources, Aziz has been living in Thailand with his family since 2007. He runs his businesses from there. In this time, he has never come back to the country, but his wife and children visit from time to time.

On Tuesday, as many as 1,01,220 shares of Olympic Industries were traded at the DSE.  The market value of the traded shares was Tk1.69crore and market capitalization stood at Tk3,504 crore.

According to DSE data, the company’s paid-up capital is Tk199 crore and authorized capital is Tk200 crore.

The sponsor-directors of the company hold 27.77% stake in the company and institutional investors own 16.57%, while foreign investors hold 39.82% , and  general public investors own 15.85% of the company. 

The company was listed at the DSE in 1989.

Last year in August, the special tribunal on the stock markets issued an arrest warrant against businessman Aziz Mohammad Bhai in a case tied to the 1996 share market scam.

On Sunday, a DNC team raided his Gulshan 2 house in Dhaka from where a huge cache of foreign liquor, gambling equipment, and other contraband items were seized.

Alongside the bottles of liquor, several hookahs, glass bongs, a betting table, roulette set, and gambling chips were also recovered from the house.

Aziz Mohammad is also a film producer and one of the accused in the sensational murder case of film actor Salman Shah.
Source: https://www.dhakatribune.com

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