Dhaka, Bangladesh (BBN)- The newly listed ACME Laboratories dominated the turnover chart for the second running week on the Dhaka Stock Exchnage (DSE) that ended on Thursday.
According to statistics from the DSE, some 14.52 million shares of ACME were traded, generating a turnover of BDT 1.72 billion last week, which was 8.72 percent of the week’s total turnover.
ACME, the country’s oldest pharmaceutical company’s share price closed at BDT 119.70 on Thursday, thet last trading session of the week, registering a decline of 0.17 percent over the previous week.
Market insiders said the investors continued to show enthusiasm surrounding newly listed ACME amid short-term speculation.
“So, it created hype among the investors and dominated the turnover chart for eighth day in a row,” said an analyst at a leading brokerage firm.
ACME Laboratories, which received regulatory approval from the Bangladesh Securities & 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 against BDT 656.08 million in the same period last year.
The post-initial public offering (IPO) earnings 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 24,482.31 million as on Thursday.
The sponsor-directors own 57.64 percent stake in the ACME, while institutional investors own 32.36 percent and the general public own 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 Steel Re-rolling Mills, with some shares worth BDT 726 million changing hands, followed by Aman Feed BDT 605 million, Lafarge Surma Cement BDT 603 million, Shahjibazar Power Compnay BDT 583 million and Olympic Accsories BDT 526 million.
Bangladesh Building Ssystems was also included in the top ten turnover chart with shares worth BDT 523 million changing hands, followed by Linde Bangladesh BDT 474 million, Quasem Drycells BDT 474 million and Square Pharmaceuticals BDT 440 million.
BBN/SSR/BB