DHAKA, Feb 17, 2026 (BSS) – The Bangladesh Securities and Exchange Commission (BSEC) has decided to extend the lock-in period for shares held by sponsors, directors, and placement shareholders of Asiatic Laboratories Limited due to unauthorized business diversions and failure to utilize IPO funds according to the original plan.

The decision was made during the 999th Commission meeting held today, presided over by BSEC Chairman Khondoker Rashed Maqsood.

According to a BSEC press release, Asiatic Laboratories was previously permitted to raise TK 95 crore through an Initial Public Offering (IPO) on August 31, 2022, for business expansion, factory construction, and loan repayment. 

However, the company has failed to utilize the IPO funds as per the prospectus. 

An inspection by the Dhaka Stock Exchange (DSE) revealed that on September 28, 2025, the company announced Price Sensitive Information (PSI) regarding the construction of a 32-story luxury building without conducting any project evaluation, feasibility tests, or obtaining necessary regulatory approvals from RAJUK and environmental authorities. 

Furthermore, entering the real estate or hotel business is inconsistent with the company's Memorandum of Association (MoA).

In the interest of general investors and the capital market, the Commission has decided to extend the lock-in period for shares held by 183 sponsors, directors, and placement shareholders mentioned in the prospectus. 

The lock-in will remain in effect for an additional three years or until the completion of the proposed building and the acquisition of a RAJUK occupancy certificate, whichever is later.

In the same meeting, the BSEC also approved the draft "Bangladesh Securities and Exchange Commission (Capital Market Information Disclosure and Whistleblower Protection) Rules, 2026". The draft will be published in national dailies and on the Commission's official website to solicit public opinion.