Saif Powertec starts journey with positive note

Saif Powertec starts journey with positive note

a

Saif Powertec starts journey with positive note

Saif Powertec starts journey with positive note

Saif Powertec Limited (SPL) on Monday made a happy debut on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
The stock closed at BDT 71.40 each, registering an increase of 138 percent on its offer price of BDT 30 in the DSE. Each share of the company traded between BDT 80 and BDT 60.10 on the prime bourse.
In the port city bourse – CSE, each share of the company traded between BDT 77 and BDT 65 and closed at BDT 72, gaining 140 percent from its issue price of BDT 30.
It was also the fourth most traded stock at the DSE and second most traded stocks at the CSE with shares worth BDT 335.93 million and BDT 90.42 million changing hands respectively.
The Saif Powertec, which received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) in April, floated 12 million ordinary shares at an offer price of BDT 30, including a premium of BDT 20 for each ten taka share and raised a fund worth BDT 360 million.
The company reported consolidated net profit BDT 68.22 million and basic EPS was BDT 1.55 in nine months (July 2013 to March 2014) as against BDT 62.33 million and basic EPS of BDT 1.42 for the same period of the previous year.
However, considering Post-IPO, company’s basic EPS would be BDT 1.22 and NAV per share would be BDT 26.75 as on 31 March 2014