Rumour triggers LankaBangla share price up
Wednesday, 13 May 2009
FE Report
The share price of LankaBangla Finance Limited moved in an unusual way on the Dhaka Stock Exchange (DSE) Tuesday amid a rumour that the company's brokerage wing-LankaBangla Securities- will float shares.
When contacted, Mafizuddin Sarker, managing director of the company, however, denied the development.
Per share of the company rose to Tk 174.90 but closed at Tk 173.80 against the opening price of Tk 164.90 on the day on DSE.
LankaBangla Finance, a leading non-banking financial institution grabbed the fifth positions in terms of both value and volume on the DSE on the day.
A total of 897500 shares of the company worth Tk 152.85 million were traded on the day.
The company approved 15 per cent cash and 15 per cent stock dividends for the year 2008 at the 12th annual general meeting (AGM) of the company held in the city recently.
LankaBangla Finance is a joint venture financial institution established with multinational collaboration of foreign equity investment from Sri Lanka and Kingdom of Saudi Arabia.
The company registered a whopping 79.43 per cent increase in its net profit at Tk 377.64 million in 2008 from Tk 210.47 million of 2007.
The portfolio increased to Tk 6.869 billion from Tk 4.777 billion of last year showing 43.80 per cent growth.
Earnings per share (face value Tk 10) in 2008 stood at Tk 9.81 against Tk 5.47 of 2007 indicating a growth rate of 79.34 per cent.
After the approval of 15 per cent stock dividend for the year 2008, paid up capital of the company would reach to Tk 442.7 million.
LankaBangla has been offering diverse financial services including lease, loan, corporate finance, bridge finance, working capital finance, merchant banking, factoring of receivables, home loan, stock broking (through its subsidiary LankaBangla Securities Ltd), credit card under master card brand.
It also receives deposit from individual and institutions under attractive/flexible/diversified deposit schemes.
LankaBangla Finance, along with its subsidiary, has 10 branches in the country.
The share price of LankaBangla Finance Limited moved in an unusual way on the Dhaka Stock Exchange (DSE) Tuesday amid a rumour that the company's brokerage wing-LankaBangla Securities- will float shares.
When contacted, Mafizuddin Sarker, managing director of the company, however, denied the development.
Per share of the company rose to Tk 174.90 but closed at Tk 173.80 against the opening price of Tk 164.90 on the day on DSE.
LankaBangla Finance, a leading non-banking financial institution grabbed the fifth positions in terms of both value and volume on the DSE on the day.
A total of 897500 shares of the company worth Tk 152.85 million were traded on the day.
The company approved 15 per cent cash and 15 per cent stock dividends for the year 2008 at the 12th annual general meeting (AGM) of the company held in the city recently.
LankaBangla Finance is a joint venture financial institution established with multinational collaboration of foreign equity investment from Sri Lanka and Kingdom of Saudi Arabia.
The company registered a whopping 79.43 per cent increase in its net profit at Tk 377.64 million in 2008 from Tk 210.47 million of 2007.
The portfolio increased to Tk 6.869 billion from Tk 4.777 billion of last year showing 43.80 per cent growth.
Earnings per share (face value Tk 10) in 2008 stood at Tk 9.81 against Tk 5.47 of 2007 indicating a growth rate of 79.34 per cent.
After the approval of 15 per cent stock dividend for the year 2008, paid up capital of the company would reach to Tk 442.7 million.
LankaBangla has been offering diverse financial services including lease, loan, corporate finance, bridge finance, working capital finance, merchant banking, factoring of receivables, home loan, stock broking (through its subsidiary LankaBangla Securities Ltd), credit card under master card brand.
It also receives deposit from individual and institutions under attractive/flexible/diversified deposit schemes.
LankaBangla Finance, along with its subsidiary, has 10 branches in the country.