Dhaka, Bangladesh (BBN)– United Power Generation and Distribution Company dominated the turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 8.0 million shares of United Power worth BDT 1.22 billion changed hands during the week, capturing 4.50 percent turnover on the premier bourse.

The power generation company’s share closed at BDT 161.3 on Thursday, registering an increase of 15.05 percent over the previous week.

Analysts said the positive expectation regarding United Power might have continued to encourage the investors to inject fresh funds into its share.

Meanwhile, 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 amalgamation will increase profit, revenue and assets. Furthermore, the company’s revenue and profitability will be raised substantially. The amalgamation will also help for operational advantages,” the company said in a statement recently.

The company’s third quarter (Q3) earnings rose 45 percent 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 BDT1.67 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 board of directors 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 56,764.55 million as of Thursday.

United Power was followed by Beximco with shares worth BDT 1.20 billion changing hands followed by Beximco Pharma BDT 993 million, Emerald Oil BDT 797 million, IFAD Autos BDT 711 million and KDS Accessories BDT 689 million.

Summit Power was also included in the top ten turnover chart with shares of BDT 679 million changing hands followed by Summit Alliance Port BDT 638 million, Khulna Power Company BDT 637 million and Aftab Autos BDT 483 million.

All top ten turnover companies share prices appreciated last week over the previous week.

BBN/SSR/BB