CDB makes grand entrance
|
The 39,685,048 shares listed by Citizens Development
Business Finance (CDB) Ltd. in the “Diri Savi” Board of the
Colombo Stock Exchange (CSE) began trading on yesterday.
Here the CDB’s GM, CEO and Director Mahesh Nanayakkara and
other CDB officials at the Colombo Stock Exchange as trading
opened. Picture by Kavindra Perera |
New entrant to the market, Citizen’s Development Business Finance (CDB)
Ltd. which listed by way of introduction saw its share price start the
day at Rs 60.00 per share and shoot up all the way to Rs 165.00 and then
come down to Rs 93.00 by the end of trade, on a volume of 300,700
shares. The share which was pegged at Rs 15.00 for its introduction had
gained 518 percent.
At Rs 165.00, the share had gained 1000 percent from its introduction
price. Overall the All Share Price Index lost 128 points (1.9 percent)
to close at 6,827 while the more sensitive Milanka Index lost 159 points
(2.1 percent) to close at 7,521.
Turnover remained high at Rs 2.7 billion yesterday as many investors
made selective investments. High turnover was seen in Hatton National
Bank which lost Rs 1.70 to close at Rs 406.50 on turnover of Rs 564
million, John Keells Holdings which lost Rs 8.10 to close at Rs 330.00
on turnover of Rs 310 million and NDB Bank which closed at Rs 393.60,
down 10 cents on turnover of Rs 132 million.
In Asian markets, the Nikkei gained 1.8 percent as the Bank of Japan
reduced interest rates to less than 0.1 percent to stimulate the
economy. The Hang Seng Index gained 1 percent, and Singapore’s Straits
Times Index gained 0.9 percent. India’s Bombay Sensex closed up 0.7
percent while Chinese markets were closed for National Day Holidays.
First Guardian Equities
|
