Dhaka, Bangladesh (BBN)– Bangladesh’s City Bank dominated the transaction chart of Dhaka Stock Exchange (DSE) for the third straight week that ended on Thursday as investors were active on its shares almost throughout the week.
According to the statistics available with the DSE, about 63.83 million shares of City Bank were traded, generating a turnover of over BDT 2.59 billion last week. It was 5.40 percent of the week’s total turnover value.
The daily average turnover for the bank was BDT 518 million on the premier bourse.
The share price of the bank closed at BDT 42.20 each on Thursday, the last trading session of the week, advancing 8.21 percent over the over previous week.
Brokers said the City Bank dominated the turnover chart as investors grabbed its shares as Bangladesh Bank (BB) recently allowed the bank to sell 5.0 percent of its shares to the International Finance Corporation (IFC).
Meanwhile, the board of directors of the bank last week recommended 24 percent cash dividend for the year ended on December 31, 2016.
The City Bank, which was listed on the Dhaka bourse in 1986, also disbursed, disbursed 22 percent cash dividend for the year ended on December 31, 2015.
The bank’s paid-up capital is BDT 8.75 billion and authorised capital is BDT 10 billion, while the total number of securities is 875.80 million.
The sponsor-directors own 30.91 percent stake in City Bank, while institutional investors own 18.79 percent, foreign investors 8.08 percent and the general public 42.23 percent as on March 31, 2017, the DSE data shows.
The City Bank was, followed by LankaBangla Finance with about 29.89 million shares of BDT 1.91 billion changing hands, followed by Beximco BDT 1.72 billion, IDLC Finance BDT 1.60 billion, Beximco Pharma BDT 1.40 billion and Brac Bank BDT 1.09 billion.
Square Pharma also included in the week’s top ten turnover chart with 3.80 million shares of BDT 1.08 billion changing hands, followed by Ratanpur Steel BDT 1.03 billion, Islami Bank BDT 921 million and ONE Bank BDT 843 million.