Robi’s share sees 50% jump on market debut

Stock investors are hopeful about the potential of Robi Axiata in the coming years as only 37,200 shares worth Tk 5.6 lakh were traded on its debut in the stock market.

Its stock price was traded at Tk 15 which is 50 percent higher than the issue price.

In the first two days of debut, there is a circuit breaker to stop rise of a newly listed company's stock price over 50 percent.

Robi raised Tk 523.7 crore from the stock market by offloading 52.37 crore shares for Tk 10 apiece.

"We hope that the company has potential to grow though its earnings are still not as per our expectations," said Rafiqul Islam, a stock investor who got 500 shares in IPO but has not sold yet.

Robi's profit stood at Tk 38 crore and earnings per share was Tk 0.08 in the July- September period.

"As a multinational company, we hope Robi will utilise the raised funds and will expand its business that its competitor Grameenphone has done," Islam added.

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