BSEC reconstitutes probe committee on Robi Axiata, extends deadline by 90 working days

The Bangladesh Securities and Exchange Commission (BSEC) has reconstituted its enquiry committee investigating Robi Axiata PLC and extended the deadline for submitting the probe report by another 90 working days.

The stock market regulator had formed the committee to investigate the country's second-largest mobile operator over alleged financial irregularities, corporate governance concerns and disclosure failures.

In an order issued by its Market Intelligence and Investigation Division on 16 August, the BSEC appointed Assistant Director Md Hasan as a member of the enquiry committee, replacing Assistant Director Mohammad Minhaz Bin Salim.

At the request of the committee, the regulator also extended the deadline for submitting the report by 90 working days from 26 June.

The BSEC said all other terms and conditions set out in its original enquiry order issued on 25 March 2026 would remain unchanged.

According to a previous report by TBS, the enquiry committee was tasked with some terms of reference, including accounting treatment, related-party transactions, corporate governance practices, and compliance with disclosure requirements during the financial years 2021 and 2022.

The committee had been instructed to complete the enquiry and submit its report within 60 working days from the date of the order.

In a recent press briefing on "Five Years in the Stock Market: Governance Excellence Driving Performance", Robi Axiata said it has invested Tk9,331.36 crore in network expansion over the past five years since making its capital market debut in 2020, boosting its digital infrastructure and driving operational growth.

Supported by this investment, the company has delivered consistent profit growth since listing, enabling it to pay handsome dividends to shareholders.

Robi raised Tk523.79 crore through its initial public offering (IPO) in late 2020.  Although it initially skipped a dividend payout for that year, it later revised its decision and declared a 5% cash dividend. Since then, the operator has consistently paid dividends, with payouts growing alongside its increasing profitability.

Robi Axiata posted a net profit of Tk937 crore in 2025, its first annual profit since listing on the stock exchange five years ago. The earnings represent a 33.3% year-on-year increase compared to 2024.

Riding on improved profitability, the board recommended a 17.5% cash dividend, or Tk1.75 per share, the highest since its market debut in 2020.

The proposed payout accounts for 97.8% of the company's total profit for the year. In 2024, Robi Axiata declared a 15% cash dividend.