Apex Foods shares rally for 10th day, faces DSE query

Defying the ailing market trend, the shares of Apex Foods Limited witnessed a 32 per cent rise at the Dhaka Stock Exchange (DSE) in the last 10 trading sessions.

To this end, the food & allied-sector company faced a query from the SDE due to this unusual rise in its share prices.

The company’s shares started rallying from Tk 222 per share dated November 21 to settle at Tk 294.9 per share on Sunday, according to the DSE data.

The listed company, however, responded to the DSE saying that there was no undisclosed price-sensitive information that could fuel the price hikes of its shares and the increase in the volume of the traded shares, said a filing posted on the website of the DSE on Sunday.

Apex Foods shares rose 3.36 per cent on Sunday.

The company’s earnings per share (EPS) stood at Tk 2 for the July-September period of 2022 against Tk 0.67 for the same period of 2021.

Its net operating cash flow per share (NOCFPS) stood at Tk 3.99 for the July-September period this year against negative Tk 0.07 for July-September last year.

The listed company’s net asset value (NAV) per share was Tk 129.69 till September 2022 which was Tk 126.18 as on June 2022.

Listed on the stock exchange in 1981, Apex Foods owns and operates a cent per cent export-oriented modern shrimp processing plant.

The company’s short-term loan stood at Tk 90.2 crore till June 2021, while its long-term loan stood at Tk 21.6 lakh, according to its last published annual report.

Its sponsors and directors jointly held a 36.06 per cent stake in the company, while institutional investors and the general public owned 5.60 per cent and 58.34 per cent respectively till October 31 this year.