No seller for Midland Bank shares on Thursday
On their ninth session in the stock market, Midland Bank shares had no seller as the price gained 9.26% to hit the maximum allowable limit for the day.
The shares closed at the upper circuit breaker of Tk11.8.
Unlike most other new shares, Midland Bank opened its debut trading on 27 March at Tk9 per share and closed above Tk10.2 on that day.
Keep updated, follow The Business Standard's Google news channel
Trading at the level for six days the stock started to see higher demand on Wednesday and the rally continued till the closing bell on Thursday.
Midland Bank's initial public offering (IPO) recently was not fully subscribed, as the general investors were shaky to invest in banking stocks thanks to the previous banking IPO's underperformance in the secondary market.
Underwriters bought the unsold portion of Midland Bank's Tk70 crore IPO.
The previous banking IPO by Global Islami Bank was fully subscribed by investors, but its shares have been stuck on the floor price of Tk9 apiece.
