In a recent notice to the bourse, DG Khan Cement clarified regarding the fake material information that was circulating on social media and Whatsapp. The whole story was fabricated, claims DG Khan Cement.
A letter titled ‘’Material Information” stating permission of due diligence is required by Anhui Conch Cement Company Limited, China to acquire 40% shares of D.G Khan Cement Company Limited was circulated on social media and Whatsapp.
The company clarified that it was a fake document and the company had neither issued any such letter nor had they received any similar request from any Chinese company or investor.
This caused the shares of the company to rise on the intraday basis which can be termed as manipulation to increase the price of a company’s shares.
Therefore, the company has now asked Pakistan Stock Exchange and SECP to carry out the necessary investigation of this fake document under the cyber crime laws.