Shuttered GBB Power gains 46% in six trading days

Shares of GBB Power Limited, a listed power producer that has remained non-operational for more than three years, have surged 46% in six trading sessions, despite the company saying there is no undisclosed price-sensitive information (PSI) behind the rally.

Responding to a query from the Dhaka Stock Exchange (DSE) on Tuesday, the company said there was no undisclosed corporate development or other price-sensitive information that could explain the sharp rise in its share price and trading volume.

The DSE published the response today (6 August). GBB Power's shares rose another 9.09% to close at Tk12.

The exchange sought the clarification after detecting unusual movements in the company's share price and trading volume. Under DSE rules, listed companies must disclose whether any undisclosed material information is driving such activity.

GBB Power has remained idle since 17 June 2023, when its power purchase agreement with the Bangladesh Power Development Board (BPDB) expired. It is among the DSE's 35 closed or non-operational listed companies and is classified under the Z Category.

The company, however, announced a new renewable energy venture earlier this year. In January, a consortium of Fiber@Home Ltd and GBB Power signed a power purchase agreement with BPDB to develop an 18MW (AC) solar power plant in Hathazari, Chattogram, which is expected to begin supplying electricity to the national grid within 24 months.

Its latest financial results showed weaker performance. Earnings per share fell to Tk0.02 in the January-March 2026 quarter from Tk0.04 a year earlier, while nine-month EPS edged down to Tk0.09 from Tk0.10. Net operating cash flow per share also declined to Tk0.07 from Tk0.14, although net asset value per share rose slightly to Tk20.44 as of 31 March 2026.