Dhaka, Bangladesh (BBN) - Aman Feed, a concern of Aman Group, dominated the week’s turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Wednesday.
According to statistics from the DSE, some 10.50 million Aman Feed shares traded last week, generating a turnover of above BDT 705 million, which was 4.67 percent of the premier bourse’s total turnover of BDT 15.10 billion.
The average daily turnover for the company was BDT 176.33 million.
Each share of the fisheries and livestock feed producer closed at BDT 71.1 on Wednesday, registering an increase of 16.75 percent over the previous week.
Market insiders said the investors were active on Aman Feed shares amid optimism as the company recently signed business deal with two non-listed companies -- Bengal Feed & Fisheries and Tamim Agro.
To meet the growing demand of finished feed, Aman Feed signed an agreement with Bengal Feed & Fisheries on March 8, which was effective from March 11 for one year.
Under the agreement, Aman Feed will supply raw materials and Bengal Feed will produce maximum 700MT finished feed per month and supply finished feed to Aman Feed and the Aman Feed will sale this feed through its existing distribution network all over the country.
“The maximum sales volume will be increased by 8,400 MT and the sales amount will be increased approximately BDT 350 million during the agreement period and the net profit will increase approximately BDT 28 million,” said the company in a recent statement.
On January 13, the company also signed a business deal with Tamim Agro for floating fish feed production and supply for nine months, which was effective from March 1.
Aman Feed, the fisheries and livestock feed producer, was listed on the Dhaka bourse in September, 2015. The company belongs to the “A” category.
The sponsor-directors own 68.25 percent stake in the Aman Feed, while institutional investors own 6.75 percent and the general public 25 percent.
The company’s paid-up capital is BDT 960 million and authorised capital is BDT 1,500 million while total number of securities is 96,000,000, according to statistics from the DSE.
The company disbursed 10 percent cash dividend to the general public shareholders other than sponsor shareholders and 20 percent stock dividend to the all shareholders for the year ended on June 30, 2015.
Based in Sirajgonj, the company started its commercial production on July 12, 2006. Aman Feed is engaged in producing and distributing poultry, fish, shrimp and cattle feed, according to the company’s website.
Aman Feed was followed by Orion Pharmaceuticals with share worst BDT 549 million changing hands followed by AFC Agro Biotech BDT 432 million, Summit Power BDT 399 million, Keya Cosmetics BDT 333 million and Orion Infusion BDT 331 million.
CMC Kamal was also included in the top ten turnover list with shares of BDT 320 million changing hands followed by Alltex Industries BDT 308 million and Bangladesh Submarine Cable Company BDT 276 million.
BBN/SSR/AD