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Union Capital share price soars 77pc in 14 days

FE REPORT | August 23, 2022 00:00:00

Share price of Union Capital continued to rise abnormally even though there is no undisclosed price sensitive information (PSI) behind such a price hike.

The company's share price jumped 77.46 per cent in last 14 days on Dhaka Stock Exchange (DSE).

In the wake of price surge, the prime bourse served a show-cause notice on the company to know the reasons behind the unusual share price hike.

In response, the company said there is no undisclosed price sensitive information for the recent unusual price hike and increase in volume of shares, according to a disclosure posted on the DSE website on Monday.

According to the DSE data, the share price of Union Capital closed at Tk 12.60 each on Monday, up 77.46 per cent from Tk 7.10, the closing price on July 28.

Of the last 14 trading days, 12 sessions saw the company's share price go up while the price declined marginally in two sessions on the DSE.

The Union Capital, presently a 'B' category company, was listed on the stock exchanges in 2007.

The company's sponsor-directors hold 35.20 per cent stakes, institutes 16.06 per cent, and shareholders 48.74 per cent as on July 31, 2022, according to DSE data.

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