Dhaka, Bangladesh (BBN)-United Power Generation and Distribution Company Ltd (UPGDCL) dominated the week’s top turnover chart on the Dhaka Stock Exchange (DSE) that ended on Thursday.
A total of 11.43 million shares worth BDT 1.89 billion changed hands during the week. Daily average for the company was BDT 378 million.
The company’s share closed at 172.1 on Thursday, the last trading day of the week, registering an increase of 4.30 percent over the previous week.
“Lock in on stocks of fuel and power large-cap United Power Generation and Distribution Company for institutional investors expired last week. Market had anticipated some correction to the stock price due to institutional sell pressure. But the stock kept on gaining 4.30 percent in the week,” said IDLC Investments, a merchant bank.
The power generation & distribution company made trading debut on April 5, 2015, with an offer price of BDT 72, including a premium of BDT 62 for each ten taka share under the book building method.
The company raised a fund worth above BDT 2.37 billion through IPO under book building method.
United Power is the first company, which came under the modified book-building method.
It is the 18th listed company in the ‘fuel and power’ sector on the DSE that accounts for 12.43 percent of the total market capitalisation.
The Board of Directors has disbursed 30 percent cash dividend and 10 percent stock dividend for the year ended on December 31, 2014 and 35 percent cash dividend for the year ended on December 31, 2013.
The company has also reported Net Profit of BDT 2,464.63 million, Basic EPS of BDT 8.30, NAV per share of BDT 31.94 and NOCFPS of BDT 8.99 for the year ended on 31.12.2014 as against BDT 1,774.43 million, BDT 5.98, BDT 23.64 and BDT 6.89 respectively for the year ended on 31.12. 2013.
The company also promoted to A category from N category on July 27.
The company’s authorized capital BDT 8.0 billion and paid-up capital BDT 3.63 billion, according to DSE website information. Total number of securities 36,29,44,698.
Of the total share – sponsor/directors held by 90 percent, institutions held 5.5 per cent while general public held 4.5 percent shares.
The week’s other turnover leaders were Lafarge Surma Cement worth BDT 1.30 billion changed hands followed by Islami Bank BDT 1.10 billion, square Pharma BDT 1.0 billion, United Airways BDT 988 million, Beximco Pharma BDT 979 million.
Beximco, also came to the top turnover list with shares worth BDT 900 million changed hands followed KPCL BDT 858 million, Appollo Ispat BDT 789 million and Shasha Denim worth BDT 713 million changed hands last week.