Paper Processing shares up 53% in 3 weeks
The company says no undisclosed price sensitive information is behind the unusual price rise
The share price of Paper Processing and Packaging Ltd – a publicly listed manufacturer of paper and paper products – surged 53% to Tk243.7 per share on Tuesday from Tk159.3 on 28 July on the Dhaka Stock Exchange.
The premier bourse asked the company to explain its unusual price rise, to which it replied that there is no undisclosed price sensitive information.
Paper Processing and Packaging Ltd is a concern of the Magura Group and was publicly listed in 1990. It makes textbooks, exam sheets, brochures, register books, diaries, and training materials.
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But in 2009, it was moved to the over-the-counter (OTC) platform for being out of operation for many years.
It got re-listed on the main trading board in June last year and is now being traded in the 'Z' category.
From January to March 2022, the company's revenues stood at Tk5.93 crore, which was Tk3.97 crore in the same period of 2021.
During the period, its net profit was Tk90 lakh, 114% higher compared to the same period of 2021.
Its earnings per share stood at Tk0.86 and net asset value per share at Tk29.94 as of 31 March 2022.
As of 31 July this year, sponsor-directors held 36.72%, institutions 0.54%, and general investors 62.74% shares of the company.
