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The Financial Express

Three cos' price hit rock-bottom on DSE

Mohammad Mufazzal | Published: December 26, 2019 11:05:16 | Updated: December 27, 2019 11:06:16


File photo (Collected) File photo (Collected)

The share price of three listed companies hit the rock-bottom following investors' less interest to take part in transactions mainly because of their non-performing status.

The companies whose share prices have come down to record low are United Airways (BD), Familytex (BD) and C & A Textiles.

The shares of these companies now are available at the prices below Tk 2.0 each.

Of these companies, the share price of the United Airways (BD) presently is the lowest one among the prices of all listed securities on the Dhaka Stock Exchange (DSE).

Those three companies were also shifted to Z-category for not recommending any dividend.

Besides, these companies have incurred losses and their corporate disclosures are not available on the websites of the stock exchanges for a long time.

For not performing as per investors' expectation, the share prices of another 49 listed companies presently are being traded below face value of Tk 10.

According to DSE information, the share price of United Airways (BD) came down to below Tk 2.0 and closed at Tk 1.30 each on Tuesday.

The company recommended no dividend in last four consecutive years and no price sensitive information is available on the websites of stock exchanges since April 4, 2019.

The company recommended only stock dividend since 2010 to 2015 and issued rights shares in 2011.

It disclosed quarterly statement for the last time in 2017. Later, the company reported a loss of Tk 0.34 per share for July-September, 2017 against the loss of Tk 0.44 per share for July-September, 2016.

The share price of C & A textile closed at Tk 1.80 each on Tuesday on the DSE. On the day, over 0.1 million shares of the company changed hands through 34 trades.

On March 10, 2019 the company made the last corporate disclosure regarding temporary suspension of its commercial operations.

The disclosure had said a DSE team visited the factory premises and head office of C & A Textiles and found both the premises closed.

"As a result, the team could not enter into the factory premises and head office of the company and could not perform the inspection," said the disclosure posted on the DSE website.

The last trade of the shares of Familytex (BD) was executed at the price of Tk 1.90, however, the price closed at Tk 2.0 each on Tuesday.

On the day, above 1.94 million shares of the company changed hands through 241 trades on the DSE.

The company recommended no dividend for the year ended on June 30, 2019. It also reported a loss of Tk 0.079 per share for the year ended on June 30, 2019 against the loss of Tk 0.072 per share for the same period of the previous year.

The share prices of another 49 listed companies have also come down below face value.

Of 49 companies, 23 are textile companies, ten are non-banking financial institutes (NBFIs), and five are banks and five are pharmaceuticals companies.

Most of those companies were shifted to 'Z' category for not recommending dividend.

mufazzal.fe@gmail.com

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