Dhaka, Bangladesh (BBN) – LankaBangla Finance dominated the week’s turnover chart on the Dhaka Stock Exchange (DSE) this week that ended on Thursday while top 10 traded companies captured 25 percent transaction.
Analysts said investors released LankaBangla’s shares following the news of non-approval of the application for issuance of rights share.
“Bangladesh Securities & Exchange Commission (BSEC) is not in a position to consider the application for issuance of rights share of LankaBangla due to non-compliance of a BSEC notification dated November 22, 2011,” said a web posting on the Dhaka Stock Exchange (DSE) on Wednesday.
Earlier, LankaBangla submitted application to the securities’ regulator to issue one rights share for existing two shares at an issue price of BDT 10 per share.
The total transaction on the DSE stood at BDT 53.22 billion on the day, which was nearly 71 percent higher than the previous week’s turnover of BDT 31.17 billion.
According to the statistics available with the DSE, about 19.28 million shares of LankaBangla were traded, generating a turnover of nearly BDT 1.09 billion during the week. It was 3.51 percent of the week’s total turnover value.
LankaBangla Finance, City Bank, BBS Cables, C&A Textile, ONE Bank, Saif Powertec, Mercantile Bank, Fu-Wang Food, IDLC Finance and Generation Next Fashions were the most-active shares in terms of value on the DSE during the week.
Of them, share price of all 10 companies rose up to 10.08 percent.
According to the statistics available with the DSE, about 42.83 million shares of LankaBangla were traded, generating a turnover of more than BDT 2.45 billion, which was 4.60 percent of the week’s total turnover.
The daily average turnover of the company was BDT 490 million.
The company’s share price closed at BDT 57 on Thursday, the last trading session of the week, registering an increase of 0.88 percent over the previous week.
The company’s consolidated earnings per share (EPS) was BDT 1.06 for April-June, 2017 as against BDT 0.60 for April-June, 2016.
In six months, consolidated EPS was BDT 2.00 for January-June, 2017 as against BDT 0.89 for January-June, 2016.
Consolidated net operating cash flow per share (NOCFPS) was BDT 1.67 for January-June, 2017 as against BDT (3.93) for January-June, 2016. Consolidated net asset value (NAV) per share was BDT 21.71 as of June 30, 2017 and BDT 21.01 as of December 31, 2016.
LankaBangla Finance, which was listed on the Dhaka bourse in 2006, paid 15 percent cash and 15 percent stocks dividend for the year ended on December 31, 2016. The company also disbursed 15 percent cash and 15 percent stock dividend in 2015.
The company’s paid-up capital is BDT 3.18 billion and authorised capital is BDT 10 billion, while the total number of securities is 318.25 million.
Sponsor-directors own 34.63 per cent stake in LankaBangla, while institutional investors own 28.13 percent, foreign investors 4.30 percent and the general public 32.94 percent as on June 30, 2017, the DSE data shows.
City Bank followed next, with shares of BDT 2.03 billion, changing hands, followed by newly listed BBS cables BDT 1.33 billion, C&A Textile BDT 1.25 billion, ONE Bank BDT 1.15 billion, Saif Powertec BDT 1.08 billion and Mercantile Bank BDT 1.06 billion.
Fu-Wang Food was also included in the top 10 turnover list with shares of BDT 1.04 billion changing hands during the week, followed by IDLC Finance BDT 879 million and Generation Next Fashions BDT 878 million.