Sattar&Co. advises a publicly listed company on allegations of using IPO proceeds in violation of its prospectus

Sattar&Co. advised a well-known public company on allegations brought against it by the Bangladesh Security and Exchange Commission (BSEC) of using IPO proceeds in violation of the company’s prospectus and the laws of Bangladesh. Our team conducted a thorough perusal of the prospectus, BSEC’s show cause notice as well as all the relevant laws of Bangladesh including foreign exchange laws, the related guidelines along with relevant ordinance, acts, rules, amendments and other circulars published by BSEC from time to time and defended our client against the allegations raised by BSEC. We are not aware of the outcome yet.