Dhaka, Bangladesh (BBN) - United Power Generation and Distribution Company Ltd dominated the turnover for the second straight week on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 7.91 million shares of United Power worth BDT 1.29 billion changed hands during the week.
The daily average turnover was BDT 258 million.
The power generation company’s share closed at BDT 161.4 on Thursday, the last trading day of the week, registering an increase of 0.06 per cent over the previous week.
“United Power remained dominated the turnover chart on the premier bourse as investors played both sides of the share,” said an analyst.
The recent amalgamation news might have also encouraged the investors to take fresh position on United Power, he said.
The board of directors of the United Power recently approved a scheme of amalgamation of Shajahanullah Power Generation Company (SPGCL) and United Ashuganj Power (UAPL) with the United Power.
SPGCL is a 28 MW gas fired commercial IPP located at Kumargaon, Sylhet and UAPL is a 53 MW Quick Rental Power Plant at Ashuganj, Brahmanbaria.
The company said in a recent statement that the amalgamation will increase profit, revenue and assets. It will also help for operational advantages.
The company’s third quarter (Q3) earnings also rose 45 per cent year-on-year in July-September period in 2015 compared to the same period a year ago.
As per un-audited Q3 financial report, the company’s earning per share (EPS) stood at BDT 2.42 as against BDT 1.67 for the same period in 2014.
In nine months (January-September 2015) EPS was BDT 6.96 as against BDT 4.92 for the same period in 2014.
The company distributed 30 percent cash 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 at a time.
United Power was listed on the Dhaka bourse in April last year. The fuel and power sector company belongs to the “A” category.
The sponsor-directors own 90 percent stake in United Power, while institutional investors own 5.5 percent and the general public 4.5 percent.
The company’s paid-up capital is BDT 3,629.5 million and authorized capital is BDT 8,000 million while total number of securities is 362,944,698, according to DSE website figures.
The company’s total market capitalization stood at BDT 60,031.05 million as of Thursday.
United Power was followed by BD Thai Aluminum with shares worth BDT 798 million changing hands followed by Emerald Oil BDT 778 million, IT Consultants BDT 757 million, City Bank BDT 671 million, Beximco Phrma BDT 667 million and Beximco BDT 635 million.
Far Chemicals was also included in the top ten turnover chart with shares of BDT 612 million changing hands followed by Bangladesh Building Systems BDT 521 million and Khulna Power Compnay BDT 473 million.
BBN/SSR/AD