Beximco Pharma shares rise 8%

Shares of Beximco Pharmaceuticals gained 8 percent over the last two trading sessions on the Dhaka Stock Exchange (DSE), closing at Tk 145.3 yesterday, following reports that the company may be delisted from the London Stock Exchange.

Investors and brokers view potential efforts to prevent the delisting as a positive development, believing they could help resolve the issues that have weighed on the company’s shares since the filing of a petition challenging the appointment of independent directors to its board.

Although the drug maker’s business performance remained strong, its stock came under pressure due to the absence of financial disclosures.

The issue dates back to 2024, when the Bangladesh Securities and Exchange Commission (BSEC) appointed nine independent directors to Beximco Pharmaceuticals following a directive from the finance ministry.

The company subsequently filed a petition with the High Court challenging the decision. Since then, the board has not met to approve or discuss financial results, and the company has not published quarterly earnings reports or annual financial statements.

The lack of financial disclosures led to the suspension of trading in the company’s global depositary receipts (GDRs) on the Alternative Investment Market (AIM) of the London Stock Exchange on January 2.

The suspension was imposed after Beximco Pharmaceuticals failed to publish its audited annual report and accounts for the financial year ended June 30, 2025, by the AIM deadline of December 31, 2025, as well as subsequent financial disclosures.

Under Rule 19 of the AIM Rules for Companies, an AIM-listed issuer must publish its audited annual report and accounts within six months of the end of its financial year.

Under Rule 41, if securities remain suspended from trading for a continuous period of six months, the London Stock Exchange will generally cancel their admission to trading unless the underlying issues are resolved.