Karachi April 25, 2022Ibex share price was observed at US$ 12.89/share on Dec 31, 2021, which was previously seen at US$ 17/share on Sep 30, 2021. Recent times have seen recovery in stock price of Ibex to US$ 15.94 on Mar 31, 2022. This bodes well for TRG Pakistan’s books in the shape of partial reversal of loss booked earlier.
As tech stocks went under consolidation, so did TRG, with its own set of vulnerabilities and sensitivities attached to its previous CEO and the attempts of regaining control at the time of Directors’ election that caused the stock price to tumble from a high of Rs. 185.49 to Rs. 84.36 at the close of last trading session.
Previous quarter (Q2FY22) saw the stock posting a loss of Rs. 23.11/Share as against corresponding EPS of Rs. 6.62 in 2QFY21. Even on a QoQ basis, this was a massive hit and was primarily caused by booking of a loss of Rs. 16 billion in the value of Long term investment in TRGIL (TRG International Limited). Out of this loss, Rs. 6.8 billion was due to Mark to Market loss on Ibex share prices on NASDAQ, which tumbled 34%.
In recent times, TRG’s stock price made a high of Rs. 91.90 and went into correction last week and is now expected to come out of the slumber with potential recovery on the back of revaluation surplus on Ibex share price on
NASDAQ.
