In inspections to identify potentials of companies which have been performing poorly over the years, Dhaka Stock Exchange (DSE) last month found factories of five listed entities closed.

The five are Northern Jute Manufacturing Company Ltd, Dulamia Cotton Spinning Mills Ltd, Regent Textile Mills Ltd, Usmania Glass Sheet Factory Limited and Familytex (BD) Ltd.

Apart from the Regent, all are under z category, meaning they have junk stocks.

However, their shares prices are higher than that of many blue chip stocks, that is shares of companies with good performance records.

Yesterday the prices were Tk 194, Tk 70.8, Tk 9.80, Tk 50.2 and Tk 4.9 respectively, according to the DSE data.

Moreover, the head offices of the Northern and the Familytex were found being used by other companies, Bangladesh's premier bourse said in separate disclosures in its website.

The Northern's factory was found closed on September 4, 2023. The next day its head office was found being used by OMC Limited.

The Dulamia factory was found closed on September 24, 2023, that of the Regent and the Usmania on September 26, 2023 and that of the Familytex on September 27.

The Familytex head office was found being used by Olila Glass Industries Ltd.

Early last month the DSE had selected 42 companies to conduct inspections as they were incurring losses, failing to hold annual general meetings or had been kept shut for many years, confirmed a top DSE official.

The Bangladesh Securities and Exchange Commission allowed the DSE to inspect 14 companies in the first phase.