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Friday, January 06, 2006

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HEADLINE
 
Three cos to be listed on DSE next week
FE Report
1/6/2006
 

          Three companies are going to be listed on the Dhaka Stock Exchange (DSE) early next week.
The companies are Asia-Pacific General Insurance, Sonar Bangla Insurance and Daffodil Computers Ltd.
A meeting of DSE's sub-committee Thursday approved the listing of the companies and a board meeting Sunday will give the final approval and fix the date of debut trading, sources concerned said.
Asia-Pacific and Sonar Bangla floated primary shares in August and September last year respectively while Daffodil in October of 2003.
"Daffodil failed to be listed on the DSE due to its poor financial strength during 2003 and 2004, but they have improved their position during the last one year," one DSE director told the FE replying to a question on the delayed listing of the issue.
Asia Pacific offered 1050,000 shares while Sonar Bangla's number of shares is 900,000.
Asia-Pacific and Sonar Bangla's earning per shares (EPSs) as per prospectuses were Tk 8.89 and Tk 14.21 respectively. Both the companies' net asset values (NAVs) were Tk 100.17 and Tk 116.16 respectively.
With Asia-Pacific and Sonar Bangla, all the companies which went public in 2005 except one (Pragati Life Insurance) got listed on the DSE.
"Pragati has just completed allotment process of its shares and the company which was oversubscribed by a record 38 times will be listed as soon as possible," another DSE policy-maker said.
A record 17 companies floated IPOs worth Tk 3206.90 million in 2005 while the number of IPOs were only three in 2004 with an amount totalling at Tk 877.75 million.
Of the total IPO amount in 2005, Tk 378.60 million was offered for general public, Tk 340.00 million for sponsors and Tk 42.200 million under pre-IPO placement.
The number of IPOs in 2003, 2002 and 2001 were 14, 8 and 11 respectively.

 

 
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