A view of Dhaka Stock Exchange in Bangladesh

Dhaka, Bangladesh (BBN) – The newly listed Intraco Refuleing Station topped the Dhaka bourse’s turnover chart last week that ended on Thursday, market operators said.

They also said the investors continued to show higher enthusiasm for the newly listed stock amid short-term speculation, taking the company in topped the chart.

According to statistics available with the DSE, about 21.67 million shares of Intraco were traded, generating a turnover of BDT 1.18 billion. It was 5.23 percent of the premier bourse’s total transaction.

The company’s share price closed at BDT 52 on Thursday, the last trading day of the week, losing 4.06 percent over the previous week.

The company’s share price jumped 336 percent on debut trading on May 17 at DSE, from its issue price of BDT 10 each despite the company’s net profit slumped 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 Refuelling 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 utilize 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, authorized 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, 2018.

Apart from Intraco, the most other active shares in terms of value included Beximco worth BDT 930 million changing hands, followed by Berger Paints worth BDT 804 million, Alif Industries BDT 645 million, United Power BDT 578 million.

Bangladesh Steel Re-rolling Mills was also included in the week’s top turnover list with shares worth BDT 565 million changing hands, followed by Legacy Footwear BDT 560 million, Queen South Textile BDT 554 million, Miracle Industries BDT 538 million and Monno Ceramic Industries BDT 534 million.

BBN/SSR/SR