Dhaka, Bangladesh (BBN) – ACME Laboratories, which made its share trading debut on June 2, dominated the week’s turnover chart for the second week in a row on the Dhaka Stock Exchange (DSE) that ended on Thursday.
According to statistics from the DSE, some 8.16 million ACME shares were traded, generating a turnover of BDT 943 million last week, which was 5.83 percent of the premier bourse’s total turnover.
Daily average turnover for the week was nearly BDT 189 million.
The country’s oldest pharmaceutical company’s share price closed at BDT 113 on Thursday, the last trading session of the week, registering a decline of 5.60 percent over the previous week.
Market insiders said the investors played both sides of ACME shares amid short-term speculation, which helped the company to become top turnover leader for second week in a row.
ACME Laboratories, which received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) in February, floated 50 million ordinary shares and raised a fund of BDT 4.09 billion through book building systems.
The company’s earnings rose 10.37 percent in nine months period in July 2015 to March 2016 as the company has reported profit after tax of BDT 724.14 million as against BDT 656.08 million in the same period last year. The post-IPO earning per share (EPS) stood at BDT 3.42 in nine months.
ACME’s paid-up capital is BDT 2,116.02 million and authorised capital is BDT 5,000 million, while the total number of securities is 211,601,700.
The company’s total market cap stood at BDT 24,101.43 million as on Thurdsay.
The sponsor-directors own 57.64 percent stake in the ACME, while institutional investor 32.36 percent and the general public 10 percent as on June 30, 2015, the DSE data showed.
ACME is engaged in manufacturing and marketing of generic pharmaceuticals formulation products, including human, veterinary and herbal drugs. The products of the company are sold in domestic as well as international markets, according to the company’s website.
ACME was, followed by Bangladesh Building Systems with shares worth BDT 603 million changing hands, followed by Olympic Accsories BDT 550 million, National Feed Mills BDT 453 million, Square Pharmaceuticals BDT 385 million and IBN Sina BDT 362 million.
Aman Feed was also inculeded in the top ten turnover chart, with shares worth BDT 358 million changing hands, followed by Doreen Power Generations and Systems BDT 323 million, Lafarge Surma Cement BDT 307 million and Orion Infusion BDT 300 million.