Dhaka, Bangladesh (BBN)-The newly listed Olympic Accessories Ltd (OAL) dominated the week’s top turnover and gainer chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
A total of 12.59 million shares of Olympic Accessories were traded worth BDT 711.78 million changed hands during the week.
Daily average turnover was BDT 178 million.
The company’s share closed at BDT 64.7 on Thursday, the last trading day of the week, gaining 33.68 percent over the previous week.
Olympic Accessories made trading debut on June 25 on the DSE and the port city bourse – Chittagong Stock Exchange (CSE).
The company received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) in February and floated 20 million ordinary shares of Tk 10 each and raised BDT 200 million from the public under fixed price method.
As a backward linkage industry, Olympic Accessories’ products are marketed based on buyer’s requirement.
It supplies garment accessories to export oriented garments industry, according to the company’s website.
Analysts said that the investors showed interest in shares of Olympic Accessories as a newly listed issue is sometimes considered as an instrument for short-term speculation and many investors want to bet on the shares for short-term gain.
The company has reported net profit after tax for the period of July’14 to March 15 (nine months) is Tk 123.46 million, pre-IPO earning per share (EPS) is Tk 1.27 and post-IPO EPS is Tk 1.06.
Of the total shares, 30.79 percent held by sponsor/directors, 53.81 percent held by institutional investors while rest of 15.4 percent held by public, according to DSE website information.
After Olympic Accessories, the week’s other top turnover leaders were Beximco Pharma BDT 619 million changing hands followed by Lafarge Surma Cement BDT 617 million, Square Pharma BDT 595 million, GP BDT 577 million, Beximco BDT 568 million changed hands.
AFC Agro Biotech also came to the list with shares worth BDT 481 million changed hands last week followed by United Airways BDT 472 million, United Power Generation and Distribution Company BDT 440 million and Khulna Power Company with shares worth BDT 419 million changing hands during the week.
BBN/BB/AI