Stocks
Dhakathai Alcomaxx files for going public
Dhakathai Alcomaxx PLC – a leading manufacturer of aluminium profiles for architectural and industrial purposes – has filed for raising Tk30 crore through an initial public offering (IPO) to expand its business and meet growing demand in the local market.
The company plans to use Tk19 crore for expansion, Tk5 crore for working capital, Tk4.71 crore for loan repayment, and Tk1.28 crore for IPO expenses.
According to its application with the Bangladesh Securities and Exchange Commission (BSEC), the manufacturer plans to issue 3 crore shares via the fixed price method.
Md Mahfug Alam, company secretary of Dhakathai Alcomaxx, told the news reporter that the demand for aluminium profiles in Bangladesh is experiencing significant growth, driven by numerous mega projects, rapid urbanisation, and ongoing construction activities.
He noted that local companies currently meet 90% of the demand, which is expanding at a rate of 15% to 20% annually, while the remaining 10% is fulfilled through imports from China.
Presently, Dhakathai Alcomaxx holds a market share of approximately 20% to 22% in the local aluminium profiles market. The company aims to capitalise on the increasing demand by expanding its market share through the introduction of compliant and high-quality products.
However, in recent years, operational costs for aluminium profiles have risen significantly due to higher raw material and fuel costs, squeezing profit margins for industry companies.
From July to December 2023, the company reported revenues of Tk213.96 crore, up from Tk193.09 crore in the same period the previous year. Its net profit after tax increased by 16% to Tk7.35 crore, up from Tk6.33 crore year-over-year.
Earnings per share for the period were Tk0.55, and the net asset value per share stood at Tk11.32 as of December 2023. Prime Bank Investment Limited is serving as the issue manager for the company.
Founded in 1997 through a collaboration of local and international entrepreneurs, Dhakathai Alcomaxx is led by Kareem Din, who serves as the director and chairman with 26 years of experience in the aluminium industry.
Industry experts have highlighted substantial investments totalling approximately Tk1,000 crore in Bangladesh’s aluminium extrusion sector.
The market demand for aluminium profiles is nearly 60,000 tonnes annually. Currently, 10 local companies together satisfy 90% of the domestic demand for these products.
Key players in the sector include KAI Bangladesh Aluminium, Dhaka Thai, PHP Group, Chung Hua Aluminium Industry, Bangladesh Thai Aluminium Ltd, and Nikki Thai Aluminium Ltd.
Moreover, the sector employs approximately 30,000 people, significantly contributing to employment opportunities in Bangladesh.
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
