GPH Ispat Board Suspends Proposal to Issue Tk 968 Crore in Rights Shares

The board of directors of GPH Ispat has suspended the company's proposal to sell rights shares. The company had earlier decided to sell rights shares worth about Tk 968 crore.

The information was disclosed through the Dhaka Stock Exchange (DSE) on Monday (26 October).

The board reviewed the rights share proposal on 24 October. Considering the state of the stock market and the interests of the company and its shareholders, the board decided to keep the proposal suspended.

On the following day, 25 October, the board informed shareholders of the decision at the company's 20th annual general meeting, where the proposal was placed on the list of cancelled items.

The company said the matter will be reviewed again later and an appropriate decision will be taken at that time.