Dhaka, Bangladesh (BBN) - A total of 17 new securities were listed on the Dhaka Stock Exchange (DSE) in the outgoing calendar year, the highest number in the last four years after market debacle in early 2011.
The new securities raised an estimated BDT 9.98 billion from public through IPO, including premium of BDT 5.50 billion in the outgoing calendar year, according to statistics from the Dhaka Stock Exchange (DSE).
In 2010, a total of 23 firms were listed that raised an estimated BDT 35 billion through IPO, so far, when the market was bullish. The figure was 14 in 2013 with a value of BDT 8.33 billion. In 2012, 14 new securities were listed and 15 securities listed in 2011, the DSE data showed.
The companies are: Mozaffar Hossain Spinning Mills, AFC Agro Biotech, Emerald Oil Industries, Matin Spinning Mills, Hwa Well Textiles, FAR Chemical Industries, The Peninsula Chittagong, Shajibazar Power Company, Khulna Printing & Packaging, Tung Hai Knitting & Dyeing, Shurwid Industries, Far East Knitting & Dyeing, Saif Powertec, Ratanpur Steel Re-rolling Mills, Western Marine Shipyard, Khan Brothers PP Woven Bag Industries and Hamid Fabrics.
With the inclusion of the new securities, the total number of listed securities on the DSE presently stands at 547 as on December 22, 2014.
Pricing of the new securities in the secondary market was better than the previous year, as the market was in recovery, breaking the previous three years’ bearish trend from the market crash in early 2011.
DSEX, the key index of the DSE, gained over 14 percent to reach 4,868.47 points till on Monday (December 22).
“The IPOs were oversubscribed manifold, while stock pricing in the secondary market was better this year than the previous year,” said an analyst.
He hopes better days are ahead as many companies are interested in coming to the market to raise working capital.
BBN/BB/AD-Dec14-12:10 PM (BST).