Yeakin Polymer emerges as most-traded issue on DSE

Dhaka,  Monday,   2016-09-22
Published : 22 Sep 2016, 21:44:19

Yeakin Polymer emerges as most-traded issue on DSE

Company makes flying debut
FE Report


The newly-listed Yeakin Polymer dominated the transaction chart of Dhaka Stock Exchange (DSE) Thursday while Brac Bank emerged as turnover leader on the Chittagong Stock Exchange (CSE).

Five most active shares on the premier bourse were Yeakin Polymer, United Power Generation and Distribution Company, LankaBangla Finance, Bangladesh Submarine Cable Company and Shahjibazar Power Company.

According to statistics available with the DSE, some 8.94 million Yeakin shares were traded, generating a turnover of over Tk 288 million. It was 5.19 per cent of the DSE's total turnover.

Khulna-based Polypropylene (PP) woven bag manufacturer's share price hovered between Tk 25 and Tk 37, before closing at Tk 31.80 on debut day, jumping 218 per cent from its issue price of Tk 10 each.

The company has reported profit after tax for nine months period of July, 2015 to March, 2016 of Tk 39.69 million and basic EPS of Tk 1.02 as against profit after tax of Tk 30.28 million and basic EPS of Tk 1.26 for the same period of the previous year.

The Post-IPO basic EPS would be Tk 0.67 for nine months and net asset value (NAV) per share would be Tk 13.72 as on 31 March, 2016.

The company's paid-up capital is Tk 590 million and authorised capital is Tk 1,000 million while the total number of securities is 590, 000,000. The company's total market cap stood at Tk 590 million as on Thursday.

The sponsor-directors own 30.50 per cent stake in the Yeakin Polymer while institutional investors own 24.35 per cent and the general public 45.13 per cent as on June 30, 2015, the DSE data showed.

Yeakin Polymer was, followed by United Power with about 1.55 million shares worth over Tk 237 million changing hands. The power generation company's share closed at Tk 154, advancing 3.36 per cent over the previous day.

LankaBangla Finance was the third on the DSE transaction list with about 6.30 million shares of Tk 196 million changing hands. The company's share price rose 3.64 per cent to close at Tk 31.30 each.

Bangladesh Submarine Cable Company emerged as fourth on the premier bourse's transaction chart with about 1.36 million shares of Tk 166 million changing hands. The state-run company's share closed at Tk 124.40 each, gaining 3.06 per cent.

Shahjibazar Power was the fifth on the DSE's turnover list with 891,434 shares of Tk 150 million changing hands. The power generation company's share price declined 1.99 per cent to close at Tk 167.70 each.

On the other hand, five most-traded stocks on the port city bourse were Brac Bank, Yeakin Polymer, United Power Generation and Dis, ACME Laboratories and Bangladesh Submarine Cable Company.

According to statistics available with the CSE, about 1.09 million Brac Bank shares were traded, generating a turnover of Tk 70.34 million. The bank's share price advanced 0.16 per cent to close at Tk 61.80 each on the port city bourse.

Yeakin Polymer was the second on the CSE transaction list with 2.05 million shares worth Tk 65.61 million changing hands. The company's share closed at Tk 31.30 each, jumping 213 per cent from its issue price of Tk 10 each.

United Power emerged as third on the CSE turnover chart with 127,813 shares of Tk 19.49 million changing hands. The company's share price advanced 3.30 per cent to close at Tk 153.90 each.

ACME Laboratories was the fourth on the port city bourse's turnover chart with 3134,595 shares of Tk 14.44 changing hands. The country's oldest pharma company's share closed at Tk 107.10 each, gaining 0.19 per cent over the previous day.

Bangladesh Submarine Company was the fifth on the CSE's transaction list with 116,155 shares of Tk 14.20 million changing hands. The company's share price advanced 2.39 per cent to close at Tk 124.20 each.

Meanwhile, Yeakin Polymer made a stellar trading debut Thursday as its share price jumped 218 per cent to close at Tk 31.80 each on the Dhaka Stock Exchange (DSE).

Khulna-based polypropylene (PP) woven bag manufacturer's share price hovered between Tk 25 and Tk 37 on the DSE, before closing at Tk 31.80, jumping 218 per cent from its offer price of Tk 10 each.

According to statistics available with the DSE, about 8.94 million Yeakin shares were traded, generating a turnover of nearly Tk 288 million, emerging as the turnover leader on the premier bourse.

In the port city bourse Chittagong Stock Exchange (CSE), each share of the company hovered between Tk 28.5 and Tk 37, before closing at Tk 31.30, soaring 213 per cent from its issue price of Tk 10 each.

Market insiders said the investors showed higher enthusiasm surrounding debutant Yeakin Polymer amid short-term speculation. So, it created hype among the investors on the first day of trading.

Yeakin Polymer, which received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) on May 19, floated 20 million ordinary shares of Tk 10 each and raised Tk 200 million from public using fixed price method.

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