Stocks
BSEC Eases Rules on Intraco Refueling Shares
The securities regulator has shortened the lock-in period for Intraco Refueling Station’s convertible shares, set to be converted from Intraco Refueling Convertible Bonds. The Bangladesh Securities and Exchange Commission (BSEC) has reduced the lock-in period to two years, applicable to shares obtained through private placement, sponsors, and directors. Previously, the BSEC had approved the issuance of a Tk50 crore convertible bond by the company.
According to the BSEC, a key condition for the bond issuance is that converted shares held by general investors will be lock-in free. The funds raised from this initiative will be allocated for establishing five LPG auto gas stations, five mother-daughter CNG stations, three CNG filling stations, and 40% for working capital.
In December of the previous year, Intraco commenced the supply of natural gas in CNG form from Bhola to various industries in Dhaka and nearby regions. The initial supply is around 5 million cubic feet per day, primarily targeting factories in Gazipur and surrounding areas where piped-gas pressure is low. Industries will be charged Tk47.60 per unit of gas, higher than the current industrial gas rate of Tk30 per unit. Intraco is set to receive Tk30.50 per unit for retailing the gas. The contract stipulates an initial supply of 5mmcfd, gradually increasing to 25mmcfd.
As of November 30, 2023, the company’s share distribution includes sponsors and directors holding 30.06%, institutions holding 14.63%, foreign investors holding 0.04%, and the general public holding 55.27% of the shares. The closing share price on the Dhaka stock exchange was Tk41.10 on Sunday.
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
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
