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Asiatic Labs Makes Stock Market Debut with Tk95mn IPO

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Asiatic Lab

Asiatic Laboratories Limited is poised to mark its debut on both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) this Wednesday. The pharmaceutical company successfully garnered Tk95 million from the stock market through an initial public offering (IPO) utilizing the book-building method.

During the IPO, general investors secured 86 shares, while non-resident Bangladeshis were allotted 143 shares against a Tk10,000 deposit. The Bangladesh Securities and Exchange Commission (BSEC) granted the company the authority to set the cut-off price for its shares in August 2022. Subsequently, eligible investors established the cut-off price at Tk50 each, adhering to BSEC regulations that allowed general investors to purchase the shares at Tk20.

However, in January 2023, the BSEC temporarily suspended the IPO subscription due to allegations involving false land ownership, inaccurate financial reporting, and fraudulent claims of share money deposits. Following proven violations of securities laws, the commission imposed a Tk50 lakh fine on each director and the issue manager in October.

In a significant turn of events, the BSEC lifted the suspension on its IPO subscription in November of the same year. Asiatic Laboratories, undeterred by the temporary setback, plans to utilize the funds raised for the initiation of anticancer drug production.

According to the financials disclosed on the stock exchange’s website as of Tuesday, the company’s profit after tax stood at Tk26.85 crore, with a basic earnings per share (EPS) of Tk3.06 at the conclusion of FY22. Comparatively, in FY21, the profit after tax was Tk32.05 crore, and the basic EPS was Tk3.65. The impending market debut is anticipated to provide a platform for the company to further its endeavors in the pharmaceutical sector.

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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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