Trading of Beximco Pharma on London to be suspended from 2 January

Trading of global depositary receipts (GDRs) of Beximco Pharmaceuticals will be temporarily suspended on London's Alternative Investment Market (AIM) from 2 January 2026, as the company has failed to publish its annual financial results within the stipulated timeframe.

In a disclosure issued to the London Stock Exchange on 19 December, Beximco Pharma said it will not be able to announce its final results or publish its annual report and accounts for the year ended 30 June 2025, before 31 December, as required under Rule 19 of the AIM Rules. 

As a result, trading in the company's GDRs on AIM will be suspended from 7:30am on 2 January 2026, it said. 

Beximco Pharmaceuticals has been listed on the AIM since 2005. The company said the delay in publishing its audited annual results is due to its board's inability to meet and approve the financial statements.

According to the disclosure, a meeting of the board of directors is mandatory to approve the audited annual results. However, this has not been possible as the Bangladesh Securities and Exchange Commission's proposed appointment of nine additional independent non-executive directors to the company's board remains unresolved. The matter is currently pending before the High Court of Bangladesh.

The company noted that the High Court is now in recess and, due to a restructuring of High Court benches during 2025, the case will have to be heard afresh before a newly constituted bench. 

Beximco Pharmaceuticals said it has been informed that a decision on the BSEC's order is unlikely before January 2026 at the earliest. Following the court's decision, the company expects to be able to convene a board meeting, approve its annual results and publish the delayed financial statements, at which point it anticipates the suspension of trading on AIM will be lifted.

Despite the suspension in London, the company clarified that its shares will continue to trade as usual on the Dhaka Stock Exchange and the Chittagong Stock Exchange. 

It also said it will continue to make disclosures on any material developments in line with its obligations under the AIM Rules while the temporary suspension remains in effect.

Beximco Pharmaceuticals last published its quarterly results for the first half of FY25. However, it has since failed to release its subsequent quarterly and full-year financial reports, adding to investor concerns.