The share price of Apex Foods is soaring without any price sensitive information (PSI). The price went up further by 2.78 per cent on Sunday.
In the last one month, the company's share price jumped more than 13 per cent or Tk 31.40 each to close at Tk 272.30 on Sunday. The company's share price was Tk 240.90 a month ago on April 8.
The frozen seafood processor and exporter's share price almost doubled within three months from Tk 139.60 each on February 7. In the last one year, the price hovered between Tk 130.50 and Tk 274.80 each.
Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company.
However, the company informed the DSE on Sunday that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
"The price of the shares of the company is going up in recent days without any valid ground. We are not aware of any reason for this unusual price hike of share price of Apex Foods," the company said in a statement posted on the DSE website Sunday.
There is no undisclosed material decision/information relating to our company's operation/profitability that might impact price of the shares, the statement said.
"We are operating our business as usual and we request to all the shareholders of the company to be cautions before buying the shares of Apex Foods by considering EPS, NAV, PE Ratio and other audited and un-audited financial statements which we disclose from time to time," said the statement.
"We bring above to the notice of the shareholders of the company so that they do not become victims of undesirable share price speculation," the company added.
The company's earnings per share (EPS) stood at Tk 0.58 for January-March 2018 as against Tk 0.35 for the same period a year ago.
In nine months for July 2017-March 2018 period, the EPS was Tk 1.39 as against Tk 0.99 for July 2016-March 2017.
The company's net operating cash flow per share (NOCFPS) stood at Tk 11.92 for July 2017-March 2018 as against minus Tk 6.03 for July 2016-March 2017. The net asset value (NAV) per share was Tk 116.11 as on March 31, 2018 and Tk 115.10 as on June 30, 2017.
The company's paid-up capital is Tk 57.02 million and authorised capital is Tk 150 million, while the total number of securities is 5.07 million.
The sponsor-directors own 38.96 per cent stake in the company while the institutional investors 10.57 per cent and the general public 50.47 per cent as on March 31, 2018, the DSE data shows.
The Apex Foods, which was listed on the Dhaka bourse in 1981, exports its products to North America, EU countries, Australia and Russia.
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