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Published : 19 Jun 2026, 01:49 AM
Trading of Beximco Pharmaceuticals on the London Stock Exchange's sub-market Alternative Investment Market (AIM) has remained suspended for five and a half months after it failed to publish audited financial statements in time, with the company now just two weeks away from potential delisting.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan said efforts are under way to prevent the company’s removal from the LSE, warning that delisting would damage Bangladesh’s capital market reputation.
“The next two weeks are critical. We must do something so that Beximco Pharma is not delisted from the London Stock Exchange,” he told bdnews24.com on Thursday.
“If it is delisted, it will damage the country’s image. It may create difficulties for other Bangladeshi companies seeking overseas listings. We are working towards a solution.”
He said six institutional investors of Beximco Pharma’s Global Depository Receipts (GDRs) in London had recently met the regulator and submitted a letter seeking a “dignified resolution” of the issue.
“We will take steps in line with their proposal. I hope something positive will happen,” he said.
Trading of the company’s GDRs on the Alternative Investment Market (AIM) of the LSE was suspended on Jan 2 after the company failed to publish its annual report within the regulatory deadline.
In a disclosure dated Dec 19 last year, the company said it was unable to publish its audited financial statements and annual report for the year ended Jun 30, 2025 within the deadline of Dec 31 under AIM Rule 19.
The company cited delays in board meetings as the main reason, stemming from an ongoing legal dispute over a BSEC proposal to appoint nine additional independent directors to its board.
The matter is currently pending in court, and hearings are delayed due to court recess and bench restructuring.
The company has said a ruling is unlikely before Jan 2026.
Without court approval, the board cannot meet to approve the financial statements.
Despite the suspension in London, trading of Beximco Pharma shares continues normally on the Dhaka Stock Exchange and Chittagong Stock Exchange.
The company, listed on AIM since 2005, last published financial results for the first half of FY2024-25.
The absence of subsequent quarterly and annual reports has raised concerns among investors.
Masud said steps would be taken within the next two weeks to arrange an extraordinary general meeting (EGM) with court approval and publish audited financial statements for the year ended Jun 30, 2025.
“This will help resolve the issue,” he said.
Company secretary Mohammad Asad Ullah declined to comment when contacted.
Under AIM Rule 19, companies must publish audited annual accounts within six months of the financial year end.
Under Rule 41, securities suspended for six consecutive months may face cancellation of admission to trading unless issues are resolved.
The six-month threshold ends on Jul 2, increasing investor concerns over possible delisting if compliance is not restored.
Delisting would mean the securities would no longer trade on AIM, although shareholders would retain ownership rights.
Any future relisting would require a fresh application and full compliance with listing rules.
Earlier, six institutional investors in Beximco Pharma’s GDRs wrote to the BSEC chairman urging steps to enable the company to approve its pending financial statements.
The regulator said it would act in line with the request.
