Himadri Limited to start trading on CSE SME platform

Trading of Himadri Limited's shares will start on the Chattogram Stock Exchange's (CSE) SME platform on 11 April, said CSE officials.

Himadri Limited operates six cold storages in the country's northern part where mainly potatoes are stored.

Earlier, it was delisted from the main board and transferred to the over-the-counter market in 2013 as the company failed to pay dividends for a long time. It was listed on the stock exchanges in 1990.

The CSE said trading of Himadri shares will start at the reference price which will be determined by the last closing price at the Dhaka Stock Exchange (DSE).

Its shares have been traded on the DSE's SME platform since 30 September 2021. The closing price of its share was determined at Tk35.30 each at the end of Monday's session.

The company also revealed its half-yearly unaudited financial report on the CSE website. It reported that its earnings per share jumped year-on-year by over 68% to Tk50.61 during the July-December period of FY2023.

According to the DSE, Himadri Limited has a total of 7.50 lakh shares, of which only 700 shares are being traded on the DSE's SME platform.

Between May and June last year, its share price jumped over 156% to Tk35.30 at the DSE's SME platform without any valid reason.

For examining the unusual price hike, the Bangladesh Securities and Exchange Commission asked the company to offload 10% more sponsors' shares in the market.

It paid a 10% cash dividend to its shareholders for the fiscal 2021-22 but the company did not disclose its financial report.