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Robi Axiata’s shares began trading on the capital market on Thursday. Robi’s shares rose 50 percent on the first day to 15 rupees.
Although demand for shares in Bangladesh’s second-largest mobile operator was high, many wanted to buy, but those who received shares through initial public offerings were less likely to sell.
However, in the case of a new company, there is no possibility of a price increase of more than 50 percent in the first two days, so at the end of the day, only 1 lakh 17 thousand shares were traded for Tk 18 lakh.
Shahidul Islam, CEO of asset management company VIPB Asset Management, told The Daily Star that while Robi’s financial performance is not promising so far, the company has the potential to generate good profits, which is why investors are looking to hold onto the shares.
Investing in the stock market is the future, considering the future, people think the same, he added.
Robi has raised 523 million rupees by issuing capital market shares of 52 million rupees to be spent to expand the network.
Robi Axiata has a paid-up capital of Tk 5,236 million. Earnings per share from January to September of this year is 22 paise.
Today, Robi has more than 51 million subscribers, representing about 30 percent of the market.
