ADN Telecom makes flying debut
The company is the 10th stock to be listed in the IT sector at DSE
ADN Telecom Ltd, an IT and telecommunication service provider has made a flying debut in the secondary capital market yesterday by hitting its limit price of Tk40.5 per share.
The stock registered a gain of 50 percent from its issue price of Tk27 per share for general investors while eligible investors bought at Tk30 per share in the book-building IPO procedure.
A total of 40.9 lakh shares were traded in the Dhaka Stock Exchange, contributing a turnover value of Tk16.6 crore during the session.
The company recently announced its first quarter earnings ending on September 30, 2019. Earnings per share stood at Tk0.44 per share during the quarter with a net asset value of Tk23.85 per share, showed DSE website.
Quarterly report obtained from the company website showed an increase of 21 percent in net revenue from Tk26.1 crore during July-September 2019 quarter against Tk21.6 crore during the same quarter in the previous year. Growth in revenue resulted from higher export services, according to the report.
The stock was also the third most traded stock at Dhaka Stock Exchange while it generated a turnover of Tk3.3 crore in Chittagong Stock Exchange.
