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Walton surges to $3.5b in market value

Staff Correspondent | Published: 19:05, Oct 06,2020

 
 

Share prices of Walton Hi-Tech Industries which made its debut on September 23 crossed $3.5 billion in market value on Tuesday.

Share prices of the home-grown electronics and appliance manufacturer shot by 6.62 per cent to close at Tk 1,002.7 a share on Tuesday. The company had hit upper limit of the circuit breaker in the previous nine sessions.

Thus, the market capitalisation of the company hit Tk 30,371.78 crore, which is equivalent to $3.57 billion ($1=Tk 85).

The market capitalisation indicates the total market value of a company’s outstanding shares. It is calculated by multiplying the total number of a company’s outstanding shares by the current market price of its share.

The paid-up capital of the company is Tk 302.9 crore and it has 30.29 crore outstanding shares.

Walton became the second most valuable listed company in terms of market capitalisation after Grameenphone, a multinational telecom company.

The market capitalisation of GP was Tk 44,100 crore on Tuesday. Square Pharmaceuticals is the second most valuable local company. Its valuation reached to Tk 17,002.18 crore on Tuesday.

Market experts said that the dearth of floating shares benefitted Walton to reach the landmark within a short period.

As per the bidding price, Walton issued only 27.58 lakh shares or 0.92 per cent of its pre-IPO paid-up capital to raise Tk 100 crore from the country’s capital market.

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