Dhaka: Bangladesh Securities and Exchange Commission (BSEC) has extended the lock-in on shares held by sponsors, directors, and placement shareholders of Asiatic Laboratories Limited due to the underutilisation of IPO funds and a controversial real estate plan. The company raised Tk 95 crore through an IPO in 2022 for business expansion, including machinery, factory construction, and loan repayment, but has yet to fully use the proceeds.
According to United News of Bangladesh, in September 2025, Asiatic Laboratories Limited disclosed plans for a 32-storey building without feasibility studies or regulatory approvals from RAJUK. This move was inconsistent with its Memorandum of Association, raising concerns among investors and regulators.
Following a Dhaka Stock Exchange inspection and considering investor protection, BSEC decided to extend the lock-in period for three years from expiry or until the building’s commercial operation and occupancy certificate is obtained, whichever comes later. The decision aims to ensure that investors are safeguarded and that the company complies with its intended use of IPO funds.