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Ten most-traded cos grab 28pc turnover

FE Report | Published: May 30, 2019 10:50:45 | Updated: June 01, 2019 10:48:22


File Photo (Collected)

Ten most-traded companies captured more than 28 per cent turnover of the Dhaka Stock Exchange (DSE) on Wednesday while New Line Clothings topped the chart.

The New Line Clothings made trading debut on the bourses on Monday and its share price soared 98 per cent on debut trading.

Market analysts said the investors continued to show enthusiasm for the newly listed New Line Clothings after debut amid short-term speculation.

According to statistics from the DSE, with 6.18 million shares of New Line were traded on Wednesday, generating a turnover of Tk 143 million, which was 4.30 per cent of the DSE's total turnover.

The company's share traded between Tk 22.30 and Tk 24.50, before closing at Tk 23.90 on Wednesday, advancing 3.46 per cent over the previous day.

The company raised a fund worth Tk 300 million from the public by floating 30 million ordinary shares using the fixed price method at an offer price of Tk 10 each.

The company will utilize the IPO fund for acquisition of plant & machinery (39.23 per cent), extension of factory building (25.44 per cent), partial loan repayment (30 per cent) and meeting IPO expenses (5.31 per cent), according to the IPO prospectus.

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