Dhaka, Bangladesh (BBN) – IFAD Autos Limited, which made trading debut on Thursday, dominated the week’s top turnover chart on the Dhaka Stock Exchange (DSE) last week.
A total of 11.79 million shares of IFAD Autos traded worth BDT 740.09 million changing hands last week. Daily average turnover was BDT 148.03 million.
Each share of the auto mobile dealer closed at BDT 67.7 on the Dhaka Stock Exchange (DSE), registering an increase of 126 percent from the offer price of BDT 30, according to the DSE website.
IFAD Autos is the 29th listed company in the engineering sector that accounts for more than 4.0 per cent of the total market capitalisation on the premier bourse.
The automobile dealer floated 21.25 million ordinary shares of BDT 10 each at an offer price of BDT 30, including BDT 20 as premium and raised a fund worth BDT 637.50 million from the public.
The company’s net profit fell 46.22 per cent year-on-year to Tk 54.92 million in July-September period 2014, with Tk 0.48 in earnings per share (EPS) and NAV per share Tk 42.17, according to DSE website.
Of the total shares, sponsor/directors held by 62.77 percent, institutions 20.6 percent while rest of 16.63 percent held by public, according to DSE web site.
The automobile dealers’ main activity is importing, marketing and body building of different models of Ashok Leyland’s vehicles, the second largest commercial vehicles maker in India, for assembly in Bangladesh through its own marketing staffs, dealers and selling agents in different districts across Bangladesh.
After IFAD Autos, the other turnover leaders were — GP BDT 382.09 million, Lafarge Surma Cement BDT 346.42 million, C&A Textiles BDT 319.76 million, Aamra Technologies BDT 309.33 million, Square Pharma BDT 236.13 million, Titas Gas BDT 220.07 million, MJL BD BDT 218.56 million, CVO Petrochemicals BDT 200.53 million and Agni Systems worth BDT 178.80 million changed hands during the week.
BBN/SSR/AD-06Feb15-9:50 am (BST)
