Aman Feed flies high on debut
Aman Feed made a stellar trading debut yesterday, as its share prices doubled before closing at Tk 98.2 each.
The share price of the company, offered for Tk 36, hovered between Tk 54.9 and Tk 103.
Aman Feed became the turnover leader, as 1.1 crore shares of the company changed hands at Tk 82.26 crore at Dhaka Stock Exchange, accounting for about 20 percent of the bourse's total turnover.
The fisheries and livestock feed producer and supplier raised Tk 72 crore from issuing two crore ordinary shares of Tk 10 each, in addition to Tk 26 as premium per share.
The company has reported net profits of Tk 5.81 crore in the first three months of this year with earnings per share of Tk 0.97, down from Tk 6.23 crore and Tk 1.04 respectively in the same period a year ago.
However, considering post-IPO shares, the company's basic EPS stood at Tk 0.73 as on March.
Aman Feed, a concern of Aman Group, is primarily engaged in producing and distributing poultry, fish, shrimp and cattle feed, according to the company's website. At present, the company's production capacity is 6,000 tonnes a month, and it reaches out to customers through more than 200 dealers.
Meanwhile, stocks extended the losing streak for the third day with DSEX, the benchmark index of the premier bourse, declining 44.14 points or 0.92 percent, before finishing the day at 4,724.51 points.
Investors were prompted to churn their portfolio on the day of debut of Aman Feed, said LankaBangla Securities.
The day's turnover, another important indicator of the market, however, rose 5.3 percent to Tk 421.33 crore with 10.49 crore shares and mutual fund units changing hands.
Losers beat the gainers 166 to 106, while 45 securities remained unchanged on the DSE floor.
Anwar Galvanising was the day's best performer, gaining by 9.83 percent, while Southeast Bank 1st Mutual Fund was the worst loser with a 9.78 percent fall.
Chittagong stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 53.89 points or 0.6 percent to end the day at 8,827.76.
Losers beat the gainers, as 151 scrips declined and 61 advanced, with 25 securities closing unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.03 crore shares and mutual fund units worth Tk 43.89 crore in turnover.
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