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The Financial Express

Ring Shine week's worst loser after debut

| Updated: December 22, 2019 17:29:37


Ring Shine week's worst loser after debut

Ten most-traded firms accounted for one-fourth transactions of the Dhaka Stock Exchange (DSE) last week that ended on Thursday.

Ring Shine Textiles, which made debut on December 12, emerged as the week's worst loser amid depressed market outlook. The stock also topped the week's turnover chart.

Investors' appetite for shares of newly-listed Ring Shine continued to lose, sending its stock prices 18.67 per cent down during the week to close at Tk 12.20 on Thursday, which is nearly its offer price of Tk 10 each.

The Ring Shine is the first company which made debut after the securities regulator imposed circuit breaker for all new securities from the debut trading day to prevent unusual price surge.

The textile company raised a fund worth Tk 1.50 billion from the capital market by floating 150 million ordinary shares at an offer price of Tk 10 each using the fixed price method.

According to the DSE data, some 12.20 million shares of Ring Shine were traded, generating a turnover of Tk 629 million, which was 5.62 per cent of the week's total turnover of Tk 11.18 billion.

The company's paid-up capital is Tk 4.35 billion and authorised capital is Tk 4.40 billion while total number of securities is 435.05 million.

The company informed on Thursday that the RJSC has approved to increase the authorised capital to Tk 5.40 billion from existing Tk 4.40 billion.

The sponsor-directors own 31.54 per cent stake in the company, while institutional investors own 25.01 per cent and the general public 43.44 per cent as of November 30, 2019, the DSE data showed.

Beacon Pharma came second on the turnover chart, with shares worth Tk 375 million changing hands. The company's share rose 14.63 per cent to close at Tk 42.30 each on Thursday.

Genex Infosys clinched the third spot, with shares worth Tk 267 million changing hands. The company's share closed at Tk 68 each, soaring 12.77 per cent over the week before.

Standard Ceramic emerged as fourth, with shares worth Tk 252 million changing hands. The company's share price rose 13.90 per cent to close at Tk 684.90 each.

Khulna Power notched the fifth spot, with shares worth Tk 248 million changing hands. The power generation company's share closed at Tk 44.80 each, advancing 4.19 per cent.

The turnover of Bangladesh National Insurance was Tk 229 million. The company's share price rose 4.44 per cent to close at Tk 25.90 each.

Square Pharmaceuticals featured a turnover of Tk 225 million. The company's share closed at Tk 183 each, losing 3.68 per cent.

The turnover of Northern General Insurance was Tk 177 million. The insurer's share closed at Tk 26.40 each, shedding 2.94 per cent over the week before.

Sonar Bangla Insurance featured a turnover of Tk 172 million. The company's share closed at Tk 39.40 each, remaining unchanged over the previous week.

Paramount Textile also made its way to the week's top turnover chart, with shares worth Tk 168 million changing hands. The company's share advanced 0.87 per cent to close at Tk 57.80 each.

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