The disposing of shares took place in two crossings of 2 million and 1.5 million, each share at Rs.24. The buyer is believed to be Perpetual Capital which entered the market in the recent times.
As per the June 30, 2011 interim reports, National Equity Fund and NAMAL Acuity Value Fund had 1.5 million and 2 million shares respectively.
After the two crossings, next largest trade was just 100,000 shares, with share rising to a high of Rs. 34.6 before closing sharply lower
Analysts pointed out that since ACME has only 25.6 million shares in issue, 44 percent of the company traded yesterday.
ACME share opened at Rs.23.10 and went high as Rs.34.60. The share closed at Rs.27.10, contributing Rs.313 million to the day’s turnover.
ACME reported a 1Q12 net loss of Rs1 million and its Book Value Per Share stood at Rs.17.2 as at June 30, 2011.