Buy-riot on Trust Bank shares debut day
Tuesday, 2 October 2007
FE Report
The hefty trading of the Trust Bank on its debut day Monday triggered a surge in transactions on both the stock exchanges, which remained sluggish in recent days.
"The market remained overheated from the very opening of the trading just because of Trust Bank's debut trading with the opening of the issue price at Tk 698.00," a DSE source said.
The buying spree, however, pushed the Trust Bank price to Tk 849.25 per share at the close of the day's trading against the face value of Tk 150.
The trading of the Trust Bank shares pushed the day's turnover to a record high of Tk 2.339 billion from Tk 1.152 billion on the previous day Sunday.
Of the total transaction, the value of Trust Bank shares traded on Monday stood at Tk 824.544 million, the highest turnover of a single issue on the debut trading day in recent years.
Monday's total turnover on the DSE was the highest after the withdrawal of the netting facility.
Earlier, the Securities and Exchange Commission (SEC) withdrew the netting facility July 22 last when the total turnover surged to Tk 2.75 billion.
The total market capitalisation also increased to its highest in the history of the DSE at Tk 626.353 billion compared with its previous Tk 611.005 billion.
On the day the DSE General Index (DGEN) reached its highest in the recent days with a rise of 78.837 points on a single-day-trading to close at 2627.024 points.
All Shares Price Index (DSI) and DSE-20 Index (DS20) gained 59.953 points and 18.640 points to close at 2168.438 and 2021.252 respectively.
Out of 189 traded issues, price of 120 gained, 57 declined and 12 remained unchanged.
Market operators said the bullish trend of the market may continue for some more days due to huge response of the investors on the back of Trust Bank shares.
The Trust Bank IPO was oversubscribed by about 11 times when the bank floated a total of 4,666,700 shares worth Tk 700 million.
The subscription ended July 28 last. The offer price of per share of the banking issue was Tk 150 with a premium of Tk 50 each.
In Chittagong Stock Exchange (CSE), Trust Bank was also the turnover leader with traded shares worth Tk 171.045 million, out of Tk 293.456 million, the total turnover of CSE.
The hefty trading of the Trust Bank on its debut day Monday triggered a surge in transactions on both the stock exchanges, which remained sluggish in recent days.
"The market remained overheated from the very opening of the trading just because of Trust Bank's debut trading with the opening of the issue price at Tk 698.00," a DSE source said.
The buying spree, however, pushed the Trust Bank price to Tk 849.25 per share at the close of the day's trading against the face value of Tk 150.
The trading of the Trust Bank shares pushed the day's turnover to a record high of Tk 2.339 billion from Tk 1.152 billion on the previous day Sunday.
Of the total transaction, the value of Trust Bank shares traded on Monday stood at Tk 824.544 million, the highest turnover of a single issue on the debut trading day in recent years.
Monday's total turnover on the DSE was the highest after the withdrawal of the netting facility.
Earlier, the Securities and Exchange Commission (SEC) withdrew the netting facility July 22 last when the total turnover surged to Tk 2.75 billion.
The total market capitalisation also increased to its highest in the history of the DSE at Tk 626.353 billion compared with its previous Tk 611.005 billion.
On the day the DSE General Index (DGEN) reached its highest in the recent days with a rise of 78.837 points on a single-day-trading to close at 2627.024 points.
All Shares Price Index (DSI) and DSE-20 Index (DS20) gained 59.953 points and 18.640 points to close at 2168.438 and 2021.252 respectively.
Out of 189 traded issues, price of 120 gained, 57 declined and 12 remained unchanged.
Market operators said the bullish trend of the market may continue for some more days due to huge response of the investors on the back of Trust Bank shares.
The Trust Bank IPO was oversubscribed by about 11 times when the bank floated a total of 4,666,700 shares worth Tk 700 million.
The subscription ended July 28 last. The offer price of per share of the banking issue was Tk 150 with a premium of Tk 50 each.
In Chittagong Stock Exchange (CSE), Trust Bank was also the turnover leader with traded shares worth Tk 171.045 million, out of Tk 293.456 million, the total turnover of CSE.