Share prices of two companies – Wata Chemicals and Salvo Chemical Industries are soaring without any price sensitive information (PSI).
In the last seven days, the share price of Wata Chemicals jumped more than 19 per cent or nearly Tk 53 each to close at Tk 325.40 on Sunday at the Dhaka bourse. The company’s share price was Tk 273.60 each on March 13.
Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company.
However, the company informed the DSE Tuesday that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
“Even after serving of show-cause notice, the prices of the company continued to rise, which may hit the investors” said an analyst, preferring anonymity.
He noted that investors should be careful about the unusual price hike of the low-cap companies.
The company’s paid-up capital is Tk 91.22 million and authorised capital is Tk 150 million, while the total number of securities is 9.12 million.
The sponsor-directors own 36.41 per cent stake in the company while the institutional investors own 37.49 per cent and the general public 26.10 per cent as on February 28, 2018, the DSE data shows.
The company, which was listed with the DSE in 1992, disbursed 10 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2017.
On the other hand, share price of Salvo Chemical also jumped abnormally.
The company’s share price soared 13.33 per cent to close at Tk 25.50 within a week without any price sensitive information.
Following the recent abnormal price hike, the DSE also served show-cause notice on the company.
However, the company informed the DSE Tuesday that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
Salvo Chemical, which was listed with the DSE in 2011, disbursed only 5.0 per cent stock dividend for the year ended on June 30, 2017.
The company’s paid-up capital is Tk 619.26 million and authorised capital is Tk 1.50 billion, while the total number of securities is 61.92 million.
The sponsor-directors own 22.14 per cent stake in the company while the institutional investors own 12.16 per cent and the general public 65.70 per cent as on February 28, 2018, the DSE data shows.
