Dhaka, Bangladesh (BBN)– Islami Bank Bangladesh Limited (IBBL) dominated the Dhaka bourse’s transaction chart last week that ended on Thursday while top ten traded companies accounted for 20 percent of the week’s total turnover.

Market insiders said investors were active on Islami Bank’s shares throughout the week ahead of the year-ending, taking it in the topped turnover chart.

Recently, the bank has decided to issue “Second Mudaraba Redeemable Non-Convertible Subordinated Bond” of BDT 7.0 billion under Mudaraba principle of Islamic Shariah.

The board of directors has taken the decision to raise the Tier-II capital of the bank under Basel-III through issuance of 7 years non-convertible IBBL Mudaraba redeemable subordinated bond.

According to statistics available with the DSE, about 15.50 million shares of Islami Bank were traded, generating a turnover of BDT 527 million, which was 2.42 percent of the premier bourse’s total transaction.

The daily average turnover for the company was BDT 105.40 million.

The bank’s share price closed at BDT 34.40 each on Thursday, the last session of the week, advancing 1.63 percent over the previous week.

The bank’s share price hovered between BDT 34 and BDT 34.80, before closing at BDT 34.40 each, advancing 4.24 percent over the previous week.

The bank reshuffled in the bank top positions in early January this year. Changes have been made to the posts of the banks chairman, managing director, heads of various committees and chief of the Islami Bank Foundation in line with a decision at the bank board meeting on January 5.

The bank disbursed only 10 percent cash dividend for the year ended on December 31, 2017, lowest in the past seven years.

The bank’s third quarter (Q3) consolidated earnings per share (EPS) stood at BDT 0.31 for the July-September period of 2017 as against BDT 0.46 for the same period a year ago.

The banks paid-up capital is BDT 16.10 billion and authorised capital is BDT 20 billion, while the total number of securities is 160.99 million.

The sponsor-directors own 44.63 percent stake in Islami Bank, while institutional investors own 10.52 percent, foreign investors 26.79 percent and the general public 18.07 percent as on November 30, 2017, the DSE data shows.
Square Pharmaceutocals followed next, with shares of BDT 513 million changing hands, followed by Grameenphone BDT 492 million, BD Thai Aluminium BDT 408 million, Legacy Footwear BDT 402 million and City Bank BDT 381 million.

Brac Bank was, also included in the top ten turnover chart with shares of BDT 378 million changing hands, closely followed by Shahjibazar Power BDT 375 million, CMC Kamal Textile BDT 374 million and Doreen Power BDT 351 million.

BBN/SSR/SR