NRBC Bank’s share price rises 32%
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February 08, 2023

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WEDNESDAY, FEBRUARY 08, 2023
NRBC Bank’s share price rises 32%

Stocks

TBS Report 
23 March, 2021, 10:00 pm
Last modified: 23 March, 2021, 10:06 pm

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NRBC Bank’s share price rises 32%

NRBC is the first bank to have entered the market list and start trading in 12 years

TBS Report 
23 March, 2021, 10:00 pm
Last modified: 23 March, 2021, 10:06 pm
NRBC Bank’s share price rises 32%

NRB Commercial (NRBC) Bank's capital market transactions started on Monday at both stock exchanges of the country. The bank topped the top gainers' list of the Dhaka Stock Exchange (DSE) on the first day of transactions by the ringing of the bell. Its share price rose 32% by the end of the day.

About four crore shares were traded on both the stock exchanges at an average price of Tk13.20. NRBC is the first bank to have entered the market list and start trading in 12 years, according to a press release on Tuesday.

Trading started at the DSE in the capital's Nikunj on Monday morning. DSE Chairman Yunusur Rahman, Acting Managing Director Abdul Matin Patwari, Bank Chairman SM Parvez Tamal, Director AM Saidur Rahman, Independent Director Air Chief Marshal (Retd) Abu Eshrar, Managing Director Md Mukhtar Hossain, and senior officials of both the organisations were present on the occasion.

Parvez Tamal said, "The people and investors have confidence in the bank. We firmly believe that they will be rewarded for their trust by ensuring transparency and accountability."

After the inauguration, transactions started at Tk15 on DSE and Chattogram Stock Exchange (CSE). The lowest price on the day was Tk11.90. At the end of the day, the bank's share price stood at Tk13.20, with an increase of Tk3.20 or 32%. On the day, a total of 3,22,93,705 shares were traded on DSE, while 72,00,000 shares were traded on CSE.

Meanwhile, NRBC Bank topped the DSE Top Ten Gainer's list on the first day with a 32% rise in its share prices. Other gainers on the DSE include: Prime Bank (9.52%), Golden Son (9.09%), Mozaffar Hossain Spinning (8.80%), Aman Cotton (8.13%), Asia Pacific General Insurance (8.12%), Republic Insurance (6.51%), British American Tobacco (6.25%), Summit Alliance Port (6.12%), and Aramit (which rose by 6.02%).

Earlier, on 16 March, the company's IPO lottery winners were submitted shares as Beneficiary Owners (BO). The lottery draw was held on 3 March to allocate shares among the applicants in the IPO. Applications for the company's IPO were accepted from 3-9 February. Before that, the bank's IPO was approved at the 649th meeting of the Bangladesh Securities and Exchange Commission (BSEC) on 16 November last year.

NRB Commercial Bank issues 12 crore shares to raise Tk120 crore in the stock market, with each share priced at Tk10.

According to the company's unaudited financial statements, as of 30 September last year, the company's consolidated earnings per share (EPS) for the third quarter stood at Tk1.79. Also, for nine months (January to September) of that year, the company's consolidated EPS was Tk2.41.

As its post-IPO share, the company's consolidated EPS for nine months was Tk2. Moreover, Consolidated Asset Value (NAV) per share stood at Tk16.01, during the period under review.

Economy / Top News

NRBC Bank / Share Price

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