Home ›› 11 Feb 2022 ›› Stock
The share price of Union Insurance skyrocketed almost 550 per cent or almost 7 times in 21 consecutive trading days.
Union insurance share price began to rise after the company debuted on January 13.
On Thursday, the company’s share price hit the almost upper limit circuit at 10 per cent to Tk 65.5, which is 550 per cent on its offer value of Tk 10 on the Dhaka Stock Exchange.
About the abnormal share price hike, the DSE already made quarries twice. In reply, the company as usual said, “There is no undisclosed price sensitive information of the company for recent unusual price hike and increase in the volume of shares.”
According to its latest financial report, its net profit rose 19 per cent to Tk 11.22 crore from July through September quarter from a year earlier. Its earnings per share (EPS) stood at Tk 0.39, up from Tk 0.32 during the period.
On June 23, 2021, the company received the IPO approval of the Bangladesh Securities and Exchange Commission to raise Tk 19 crore.
Of the company’s total stake, Union Insurance Company Chairman Mozaffar Hossain Paltu holds 4.84 per cent, Belayet Hossain 4.50 per cent, Shajahan 2.20 per cent, MM Kamaluddin Chowdhury 2.01 per cent.
