Midland bank shares trade around face value in debut
Stocks
27 March, 2023, 01:00 pm
Last modified: 27 March, 2023, 01:17 pm
Midland bank shares during their first trading session on Monday have been trading around the face value of Tk10 apiece.
Over 20 lakh shares of the bank were traded till 12.45pm.
The new generation commercial bank was listed on the prime bourse after its initial public offering (IPO) crossed Tk70 recently.
The shares hit the lowest possible price of Tk9 apiece and also went as high as Tk10.3 on the trading floor of the Dhaka Stock Exchange.
Considering the post-IPO number of shares, its net asset value per share stood at Tk12.79 at the end of last September.
In the first nine months of 2022, the bank's profit dropped by more than half.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.