Beximco Pharma Eases Delisting Risk in London Stock Exchange

Beximco Pharmaceuticals Limited is moving out of the risk of being delisted from the Alternative Investment Market (AIM) of the London Stock Exchange.

With approval from the Bangladesh Securities and Exchange Commission (BSEC), the company has called a board meeting to publish its audited annual report and other financial statements. Company officials and stakeholders expect the delisting-related complications to be resolved soon.

The regulator approved the board meeting on Sunday following applications from six institutional investors holding securities listed in London. The commission took the decision to protect the interests of general investors and maintain the country’s capital market image abroad.

BSEC Executive Director and spokesperson Md. Abul Kalam told Agamir Somoy that the complications surrounding Beximco Pharma’s London listing have seen a positive resolution. He said the risk of delisting due to failure to publish financial statements on time has been removed under the commission’s latest decision. He added that the move aims to benefit general investors. The company has a significant number of foreign investors, and the decision also seeks to protect Bangladesh’s capital market reputation in international markets.

Sources said Beximco Pharma had faced the risk of delisting from AIM after failing to publish its audited annual report and financial statements for the fiscal year ending June 30, 2025, within the deadline. Under AIM rules, publishing audited financial statements by December 31, 2025, was mandatory. As a result, trading of the company’s Global Depository Receipts (GDRs) on AIM was suspended from January 2 this year. If trading remains suspended for six consecutive months, listing can be cancelled. In this situation, several institutional investors in London urged the BSEC chairman to expedite a board meeting and allow approval of the pending financial reports.

According to the company’s announcement, the board meeting will be held on Tuesday at 3:30 p.m. The meeting will approve and publish the unaudited financial report for the third quarter of the 2024–25 fiscal year, the audited financial report for the completed fiscal year, and the unaudited financial reports for the first, second, and third quarters of the 2025–26 fiscal year.

With the resolution of these complications, Beximco Pharma will now be able to publish financial reports, declare dividends, and hold its annual general meeting (AGM). Since the 2024–25 fiscal year has already ended, the company will be able to complete its AGM by applying to the High Court. Approval to hold the board meeting has cleared the way for these processes.

Company Secretary of Beximco Pharmaceuticals Limited Mohammad Asad Ullah told Agamir Somoy that the approval of the board meeting by the BSEC will end the ongoing complications.

It is noted that following a directive from the Ministry of Finance in 2024, BSEC appointed nine independent directors to the company’s board. The company later challenged the decision by filing a writ petition with the High Court. Since then, no board meeting has been held. Beximco Pharma remains the only internationally listed company from Bangladesh.