National Housing’s share price soaring sans PSI

FE Online Report | Published: September 05, 2018 11:58:16 | Updated: September 13, 2018 12:01:45


Share price of National Housing Finance & Investment is soaring having there is no undisclosed price sensitive information.

Within 12 consecutive sessions, the company’s share price jumped more than 80 per cent or Tk 36.60 each to reach at Tk 82.10 on Tuesday. Its share price was Tk 45.50 each on August 12.

Following the recent abnormal price hike of the company’s share, the Dhaka Stock Exchange (DSE) served show-cause notice on the company.

The company informed the DSE today (Wednesday) that there is no undisclosed price sensitive information for recent unusual price hike of its shares.

Meanwhile, National Bank, one of the corporate sponsors directors of the company, on August 27 expressed its intention to buy total 30,02,160 shares of the company at prevailing market price (In the public market: 30,022 shares & block market: 29,72,138 shares) through stock exchanges within next 30 working days.

“The National Bank’s huge share purchase announcement of might have pushed the company’s share price hike,” said a leading stockbroker.

National Housing Finance, which was listed on the Dhaka bourse in 2009, disbursed 19 per cent cash dividend in 2017. The company paid 18 per cent cash dividend in 2016.

The company’s paid-up capital is Tk 1.06 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 106.39 million.

Sponsor-directors own 60.68 per cent stake in the company while the government owns 9.34 per cent, the institutional investors own 19.08 per cent and the general public 10.90 per cent as on July 31, 2018, the DSE data shows.

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