Another stock market scam?
The results of the IPO Lottery of EBL NRB Mutual Fund, conducted by BUET spread over 978 pages covering lacs of investors, is now available in DSE website. Subscription was payable to 13 Banks, their branches (about 100) all over Bangladesh, institutional buyers including ICB and Mutual Funds.
Astonishingly, these 978 pages comprise only those who paid subscriptions in the Dilkusha Branches of Eastern Bank, Bank Asia, Trust Bank and BRAC Bank. No one else received any allotment including NRB allottees as per the website. The mode of refund is also absent. Nothing similar has ever happened in all the years I have been participating in IPOs. Can SEC, DSE, BUET and Race Management please explain how this could happen? BUET has long been trusted by investors for impartiality in IPO Lotteries.
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