A view of Dhaka Stock Exchange in Bangladesh
Dhaka, Bangladesh (BBN)- The newly-listed Intraco Refuelling Station dominated the week’s turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
Intraco Refuelling Station made trading debut in Dhaka and Chittagong stock exchanges on May 17 last.
Market insiders said the investors continued to show higher enthusiasm for the newly listed stock amid short-term speculation, taking the company on top of the chart for second day in a row.
According to statistics available with the DSE, about 23.78 million shares of Intraco were traded, generating a turnover of BDT 1.18 billion. It was 5.0 percent of the week’s total transaction.
The company’s share closed at BDT 54.20 each on Thursday, the last trading day of the week, registering an increase of 24.31 percent over the week before.
The company’s share price jumped 336 percent on debut trading at the DSE, from its issue price of BDT10 each despite the company’s net profit slumping more than 32 percent in nine months.
In nine months from July 2017 to March 2018, the company's consolidated profit after tax fell more than 32 percent to BDT 32.35 million, from BDT 47.95 million in the same period of previous year.
The company's post-IPO consolidated basic earnings per share (EPS) stood at BDT 0.43 for nine months ended on 31 March 2018 and consolidated net asset value (NAV) per share was BDT 12.75 as on 31 March 2018.
Intraco Refueling Station, which received approval from securities regulator on January 16, raised BDT 300 million from the capital market by issuing 30 million ordinary shares at an issue price of BDT 10 each under the fixed price method.
The re-fuelling company will utilise the IPO fund for LPG bottling and setting up distribution plants along with bearing the IPO expenses.
The newly-listed company’s paid-up capital is BDT 750 million, authorised capital is BDT 1.0 billion and the total number of securities is 75 million.
Sponsor-directors own 31.51 percent stake in the company while institutional investors 22.40 percent and general public 47.09 percent as on June 30, 2017.
Apart from Intraco, the most other active shares in terms of value included BRAC Bank with share worth BDT 778 million changing hands, followed by Beximco BDT 760 million, United Power BDT 609 million, Legacy Footwear BDT 597 million.
Advent Pharma was also included in the week’s top turnover list with share worth BDT 556 million changing hands, followed by Queen South Textile BDT 540 million, Grameenphone BDT 531 million and Western marine Shipyard BDT 443 million.
BBN/SSR/SR