Stocks
BSEC Announces Withdrawal of Robi’s Floor on Tuesday
The Bangladesh Securities and Exchange Commission (BSEC) has announced the withdrawal of the floor price restriction for shares of Robi Axiata Limited, the country’s second-largest telecom operator, effective Tuesday.
In a directive issued on February 6, the regulatory body stated that the floor restriction for Robi shares would be lifted the day after the record date, set for March 18.
The floor price represents the lowest price set by the securities regulator at which a stock can be traded. Earlier in January, the commission lifted the restriction for most stocks, 18 months after its imposition.
Currently, Robi shares have been trading at the floor price of Tk30 each at the Dhaka Stock Exchange (DSE).
Robi is recognized as the fifth-largest company in terms of market capitalization, accounting for 3.9% of the DSE’s total valuation with a current total market cap of Tk15,714 crore.
Previously, on March 3, the floor price was removed for the largest stock, Grameenphone (GP), followed by the removal of the floor for British American Tobacco (BAT) Bangladesh, the second-largest company at the Dhaka bourse.
After the removal of the floor restriction, GP shares witnessed a decline of over 16%, settling at Tk241.2 each, while BAT Bangladesh stocks fell by 17% to Tk430 each, consequently impacting the benchmark index of the DSE.
Financial Overview of Robi:
On February 15, Robi disclosed its financial statement and announced dividends for the year 2023.
According to the company’s statement, its revenue surged by 16% year-on-year to Tk9,942 crore in 2023, marking the highest annual turnover in its history.
Moreover, its net profit reached Tk321 crore last year, reflecting a 76% annual growth.
Robi has declared a 10% cash dividend to its shareholders for the calendar year 2023.
The multinational company is scheduled to hold its annual general meeting on April 24 to approve the dividend and audited financial statement.
Rajeev Sethi, managing director and CEO of Robi, attributed the record-setting revenue in 2023 to the supreme confidence subscribers had in the network, leading Robi to achieve the highest number of subscriptions among all operators during the year.
In 2023, Robi Axiata expanded its subscriber base by adding 43 lakh new users, reaching a total of 5.87 crores, constituting 31% of the country’s overall mobile phone subscriber base.
Additionally, the company witnessed an 8.9% growth in its data subscriber base, reaching 4.47 crores compared to the previous year, with the 4G subscriber base surging by 23.7% year-on-year to 3.57 crores.
Earlier, the telecom company had distributed a 7% cash dividend for the year 2022. Robi reported earnings per share of Tk0.61 in 2023, marking a 74% increase compared to 2022.
Major General Mohammad Quamruzzaman (retd) has stepped down from his role as an independent director of the board of the Dhaka Stock Exchange, citing personal reasons.
He also served as a member of the DSE’s Nomination and Remuneration Committee (NRC).
Quamruzzaman was appointed to the DSE board on 1 September 2024, following the fall of the Awami League-led government. After serving for nearly one year and nine months, he submitted his resignation on Saturday (24 May).
Speaking to Quamruzzaman confirmed his resignation, saying, “Yes, I have resigned as an independent director for personal reasons.”
Md Shafiqur Rahman, Deputy General Manager of Public Relations and Publications at the DSE, said Quamruzzaman submitted a resignation letter mentioning personal reasons behind his decision.
“The DSE board will now take a decision regarding the resignation,” Shafiqur Rahman said.
He also indicated that Quamruzzaman may be planning to join another company, which could have influenced his decision to resign.
Earlier, another independent director of the DSE board, Shahnaz Sultana, also resigned from her position. She was likewise a member of the NRC.
According to the DSE annual report, Shahnaz Sultana is the CEO and Chief Consultant of FINS Alliance Risk Advisory and Consultancy and has served as the Founder and Chairperson of the WE Global Women Foundation since 2020.
The Bangladesh Securities and Exchange Commission (BSEC) has today approved appointment of Ms. Nuzhat Anwar as the new Managing Director of Dhaka Stock Exchange PLC. (DSE).
Ms. Nuzhat Anwar brings over two decades of experience in financial markets, banking, and development finance. Prior to her appointment, she worked at the International Finance Corporation (IFC), the private sector arm of the World Bank Group, where she held multiple senior leadership roles across Africa and South Asia. Her positions included Resident Representative for Liberia and Sierra Leone, Senior Country Officer for Bangladesh covering Bangladesh, Bhutan, and Nepal, and acting Cluster Manager during the COVID-19 pandemic and the subsequent transition period.
Ms. Anwar also served as an IFC Country Officer in Botswana and Namibia, where she played a key role in establishing IFC’s presence in Gaborone and advancing a sustainable investment program, including IFC’s first investment in Botswana. She offers deep expertise in capital management, treasury and liquidity, transaction services, portfolio optimization, and market advocacy. Earlier in her career, she spent 16 years with Citibank Bangladesh and Standard Chartered Bank Bangladesh in various senior management roles.
Ms. Anwar holds a Master’s degree in Commerce (Finance) from the University of Dhaka.
On her appointment as the Managing Director of DSE, the Chairman of the Board of DSE Mr. Mominul Islam said, “We are pleased to receive the approval of BSEC for appointment of Ms. Anwar as the new Managing Director. Over the last one year the NRC and Board of have worked hard to recruit a competent leader as the MD of DSE. We are confident that Ms. Anwar, with her excellent leadership trait, vast experience in the financial sector in home and abroad and deep passion for transformation in the Capital Market of the Country, is the right candidate to lead DSE in the days ahead. Now, we will complete the internal processes to onboard Ms. Anwar at soonest.”
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
