Dhaka, Bangladesh (BBN) - United Power Generation & Distribution Company dominated the Dhaka Stock Exchange (DSE) turnover chart for the second week in a row that ended on Thursday.
Market insiders said investors were mostly active on United Power’s share throughout the week after the news that the company will acquire 99 percent stake of United Energy, a sister concern of the United Group.
United Energy is also a power generation company established under the private sector power generation policy of Bangladesh.
United Energy is operating two power plants – 53 MW at Ashuganj and 28 MW at Sylhet respectively, said the disclosure on November 14.
United Energy also has equity (92.41 percent) investment in the United Ashuganj Energy (UAEL), a company having generation capacity of 195 MW power (Gas Based) located at Ashuganj in Brahmanbaria.
According to statistics available with the DSE, about 3.65 million shares of United Power were traded, generating a turnover of BDT 1.16 billion, which was 4.43 percent of the week’s total turnover.
The total turnover on the DSE stood at BDT 26.29 billion which was BDT 27.65 billion in the week before as last week saw four trading sessions instead of five sessions.
Share price of the power generation company closed at BDT 305.70 each, losing 5.56 percent over the previous week.
In the last one year, the company’s share traded between BDT 149.70 and BDT 375 on the prime bourse.
United Power disbursed 90 percent cash and 20 percent stock dividend for the year ended on June 30, 2018.
The company has also reported earnings per share (EPS) of BDT 11.51, net asset value (NAV) per share of BDT 40.80 and net operating cash flow per share (NOCFPS) of BDT 10.81 for the year ended on June 30, 2018 as against BDT 10.46, BDT 37.47 and BDT 10 respectively for the same period of the previous year.
United Power, which was listed on the DSE in 2015 under the book building method, disbursed 90 percent cash and 10 percent stock dividend in 2017.
The company’s paid-up capital is BDT 4.79 billion, authorised capital is BDT 8.0 billion and the total number of securities is 479.08 million.
Sponsor-directors own 90 percent stake in the company while institutional investors 5.81 percent, foreign 0.12 percent and the general public 4.07 percent as on October 31, 2018.
Among other active shares in terms of value included Kulna Power Company with shares worth BDT 1.13 billion changing hands, followed by Intech BDT 990 million, Saiham Textile BDT 620 million, Brac Bank BDT 599 million and Shepherd Industries BDT 593 million.
Square Pharmaceuticals was also included in the top ten turnover chart with shares of BDT 591 million changing hands, followed by Saiham Cotton Mills BDT 582 million, SK Trims Industries BDT 562 million and Wata Chemicals BDT 521 million.
BBN/SS/ANS