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Bangladesh Monospool Witnesses a 36% Drop in Share Prices Amidst Amalgamation Issue

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Bangladesh Monospool

According to the directives of the Bangladesh Securities and Exchange Commission (BSEC), the controlling authority in Capital Market, Bangladesh, the company Bangladesh Monospool Paper Manufacturing Limited endeavors to raise its paid-up capital to a minimum of Tk300 crore. In compliance with this, the company has initiated the issuance of rights shares and has collaborated with supportive institutions for this purpose. Simultaneously, the minimum paid-up capital has been augmented to Tk300 crore. However, post this collaboration, the company’s share price has experienced a decline, decreasing by 36% from the date of becoming compliant on January 31st to February 19th. This information has been sourced from the Dhaka Stock Exchange (DSE).

According to sources, Bangladesh Monospool, an industrial establishment, obtained approval from the regulatory authority, the Bangladesh Securities and Exchange Commission (BSEC), for the merger with Pearl Paper and Board Mills Limited on January 31. Following the amalgamation, the share price of the company has been declining. On January 31, the share price was Tk237.50 paisa, and on February 19, it stood at Tk151.60 paisa. In just 14 days, the share price has decreased by Tk 85.90 paisa or 36.16%.

It is reported that during the 188th annual general meeting of BD Monospool on March 11 last year, the decision for the amalgamation with Pearl Paper and Board Mills Limited was approved. Following this decision, both companies applied for approval from BSEC and the High Court, with both institutions granting consent to the merger on January 31, as communicated to the Dhaka Stock Exchange.

According to DSE sources, Bangladesh Monospool engaged in trading activities in the spot market on February 14 and 15 for the amalgamation with Pearl Paper and Board Mills Limited. For this purpose, the company’s record was maintained on February 18. Subsequently, the share price of the company witnessed a decline of more than 31% within just one day after the record date. On February 18, the company’s share price was Tk220.90 paisa, while at the close of the market today, it stands at Tk151.60 paisa. In other words, within a single day, the share price has decreased by Tk69.30 paisa or 31.37%.

It’s noteworthy that Bangladesh Monospool Paper Manufacturing was listed on the Dhaka Stock Exchange in 1989. Due to a decline in business conditions, the company shifted from the main market to the OTC market. Approximately a decade later, around June 13, 2021, the company resumed trading in the main market. Following the issuance of 10% bonus shares by Monospool Paper, the paid-up capital stood at 10 crore 32 lakh 77 thousand 76 Taka. With BSEC’s approval to issue 2 crore 37 lakh 77 thousand 394 shares for amalgamation, the paid-up capital increased to 34 crore 10 lakh 50 thousand Taka. After the consolidation of shares between the two companies, the total share count for BD Monospool stands at 3 crore 41 lakh 5 thousand 101, of which 45% is held by investors and directors. Institutional investors hold 10.17%, and general investors own 44.83% of the total shares.

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Dhaka Bourse Performed Mixed

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dse bourse indices turnover dhak stock exchange stock market

Dhaka Stock Market DSE, Bourse on the third working day of the week, 16th July, ended with a mixedperformance in Indices and drop in Turnover from the previous working session. This information is known from DSE sources.

662 crore 24 lakh taka shares were traded on this day. 39 crore 98 lakh more tradings were done in DSE today compared to the previous workday, July 15th, Shares worth Tk 662 crores 24 lakh shares were traded last time, Monday.

The benchmark DSEX decreased 1.82 points or 5,484 The Shariah-based index DSES dropped 1.56 points or 1,201 and the blue-chip index DS30 gained by 17.08 points or 1,961.

Of the issues traded, 121 advanced, 221 declined and 55 remained unchanged.

NRB Bank Limited ranked top gainer on DSE, the share price increased by Tk 1.10 paisa or 10.00 percent. On this day, the share was last traded at Tk 12.10 paisa.

Prime Textiles Mills Limited ranked top loser on the DSE, the share price dropped by Tk 0.50 paisa or 3.00 percent. On this day, the share was last traded at Tk 16.20 paisa.

DSE topped on trade is Reckitt Benckiser Limited 23 crore 33 lakh takas of company shares have been traded.

A total of 42 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 89 lakh 50 thousand 218 shares of the companies were traded. The financial value of which is 50 crore 62 lakh taka

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Sena Kalyan Insurance releases Q2 FInancials

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Sena Kalyan Insurance

One of the listed companies, Sena Kalyan Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).

The company’s earnings per share (EPS) Tk 1.14 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 2.06 for January-June 2024 as against Tk. 1.32 for January-June 2023. EPS  was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 22.83 as of June 30, 2024.

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Dhaka Bourse on Green Despite Sluggish Indices

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dse dhaka bourse index turnover

Dhaka Stock Market DSE, Bourse on the second working day of the week, 15th July, ended with a gaining performance in Indices and Turnover from the previous working session. This information is known from DSE sources.

662 crore 24 lakh taka shares were traded on this day. 39 crore 98 lakh more tradings were done in DSE today compared to the previous workday, July 12th, Shares worth Tk 622 crores 25 lakh shares were traded last time, Sunday.

The benchmark DSEX increased 2.17 points or 5,484 The Shariah-based index DSES added 0.72 points or 1,203 and the blue-chip index DS30 gained by 7.17 points or 1,937.

Of the issues traded, 140 advanced, 191 declined and 66 remained unchanged.

Information Services Netowrk Limited ranked top gainer on DSE, the share price increased by Tk 4.50 paisa or 9.93 percent. On this day, the share was last traded at Tk 49.80 paisa.

Linde Bangladsh Limited ranked top loser on the DSE, the share price dropped by Tk 33.40 paisa or 3.00 percent. On this day, the share was last traded at Tk 1,080.10 paisa.

DSE topped on trade is Orion Infusion Limited 57 crore 23 lakh takas of company shares have been traded.

A total of 40 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 53 lakh 88 thousand 588 shares of the companies were traded. The financial value of which is 51 crore 12 lakh taka

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