Dhaka, Bangladesh (BBN) – ACME Laboratories, the Bangladesh’s oldest pharmaceuticals company, dominated the turnover on Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 7.18 million ACME shares were traded, generating a turnover of over BDT 848 million, which was 4.95 percent of the premier bourse’s total turnover.
The daily average turnover for the company was around BDT 170 million.
The pharmaceutical company’s share price closed at BDT 122.30 on Thursday, the last trading day of the week, registering an increase of 5.07 percent over the previous week.
Market insiders said the investors continued active both sides of ACME shares almost throughout the week, which contributed the company became the week’s turnover leader.
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 in July 2015 to March 2016 period 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 Tk 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 24,863.20 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 Square Pharmaceuticals with shares worth BDT 513 million changing hands, followed by Shahjibazar Power Company BDT 512 million, Islami Bank BDT 472 million, Lafarge Surma Cement BDT 420 million and ACI Formulations BDT 381 million.
Delta Brac Housing Finance Corporation was also included in the top ten turnover chart with shares worth BDT 365 million changing hands, followed by Aman Feed BDT 361 million, National Feed Mills BDT 357 million and MJL Bangladesh BDT 335 million.