Fine Foods Limited owners are holding only above five per cent share but they are totally unaware about the skyrocketing pace of their company’s share price in the virtual market. The share price of the company jumped from Tk 42 on June 26 to Tk 92 today.
A Tk 13 crore company is mainly produce dairy products, fish and vegetables which earned around Tk 2 crore profit from the first three quarter of the current fiscals.
The Dhaka Stock Exchange (DSE) website said on Thursday DSE wants to know the reason from Fine Foods on Thursday as prices continue to rise. In response, the company said it did not have any undisclosed price-sensitive information that could lead to a rise in share prices.
If the share price rises without a real reason, it does not last. In that case, investors buy shares at a higher price and then lose. The stock exchange asks the company for an explanation if the share price rises abnormally, Zahirul Islam, a share analyst told Business Mirror.
The company paid a cash dividend of 2% in 2019. Fine Foods Limited, which is now trading in ‘B’ category in the Dhaka capital market, was listed in 2002. Out of the total 1,39,63,920 shares of the company, 5.09 per cent are in the hands of entrepreneurial directors, 2.31 per cent in the hands of institutional investors and 92.60 per cent in the hands of general investors.
Fine Foods Limited is engaged in the production and marketing of fish feed, greens, cow, milk and trees of different species. The Company’s fish project is in the village Mondolvog of Manikkhali, Bangladesh. The Company operates another fish project in the village Masera of Chandpur Union, Bangladesh.