Dhaka Stock Exchange (DSE) has added JMI Hospital Requisite Manufacturing Ltd to its benchmark DSEX index on reviewing quarterly IPO addition, as it met all the criteria.
The newly revised index will be effective from July 24 (Sunday), according to a DSE statement issued on Thursday. The prime bourse reviews the IPO addition on a quarterly basis.
The indices panel of DSE selected the company after reviewing its performance for April-June 2022 quarter in line with the index methodology designed by S&P Dow Jones Indices.
With the inclusion of the JMI Hospital Requisite, the DSEX will now have 340 listed companies accounting for around 95 per cent of the prime bourse's total market capitalisation.
JMI Hospital Requisite raised Tk 750 million from the capital market by issuing initial public offering (IPO) shares under the book-building method for buying machinery, constructing buildings, land development and repaying bank loans.
The cut-off price of shares of the company was fixed at Tk 25 each, but the general investors received IPO shares at Tk 20 each, a 20 per cent discount on the cut-off price.
The medical equipment manufacturer made its debut trading on March 31 this year. Its share closed at Tk 72.80 on Thursday, losing 1.89 per cent over the previous day on the DSE.
The company has reported earnings per share (EPS) of Tk 2.89 for nine months (July 2021-March 2022) as against Tk 1.70 for July 2020-March 2021.
The DSE has also brought changes to its DS30 index, comprising blue-chip companies, as part of the semi-annual rebalancing of the index, done as per criteria set by S&P Dow Jones Indices.
After semi-annual rebalancing, Pubali Bank will be added to the DS30 Index, replacing IFIC Bank which was dropped from the list of DS30 constituents as it failed to meet the criteria.
babulfexpress@gmail.com