Delta Life Insurance share price rises by 199%!

Delta Life Insurance Company is not being able to publish its audited financial report for two years because of not getting actuarial basis approval from Insurance Development and Regulatory Authority (IDRA). As a result the company's annual meeting was not held. Dividends were not announced for the same reason.

Delta Life Insurance Company's board of directors was dissolved and an administrator was appointed. In the middle of these ups and downs, Delta Life Insurance Company's share price has increased by 199% in six months.Delta Life Insurance Company's share price was 62 taka 40 paisa on 4 April 2021.

That day 11, 482 shares of this company were transacted in Dhaka Stock Exchange (DSE). On 28 June 2021 Delta Life Insurance Company's 1 crore 5 lakh shares were transacted. Yesterday the company's share price reached 186 taka 80 paisa.

DSE has issued a letter to Delta Life Insurance Company seeking to know the reasons for the abnormal rise of its share prices. Delta Life Insurance Company has stated that there is no price sensitive information (PSI) regarding the mounting share prices of this company.

Rezaul Karim, Executive Director and spokesman of Bangladesh Securities and Exchange Commission (BSEC) has said that BSEC is monitoring the escalating share prices of Delta Life Insurance Company. BSEC will take necessary actions if any irregularity is found, Rezaul Karim commented.