DHAKA: The Securities and Exchange Commission Thursday formed a two-member committee to probe an unusual hike in share prices of Fine Food Ltd company.

In its edict the market watchdog asked the probe body headed by director of SEC Mir Mosharraf Hossain to submit its investigation report by October 31.

The other member of the committee is Fakhrul Islam Mazumder, assistant director of the SEC.

Anwarul Kabir, executive director and spokesman for the SEC, confirmed the measure to banglanews.

Earlier, Dhaka Stock Exchange (DSE) halted transactions of Fine Food Ltd up to September 8 for unusual rises in share prices. Later, the transaction resumed on September 9.

Sources said SEC decided to investigate unusual hike for a second time.

The price of Fine Food share was Tk 70 on August 19 against Tk 10 face value, which rose to Tk 110 only in eight working days.

BDST 1932 HRS, SEP 16, 2010