Bangladesh
6 years ago

Rights subscription of Alif Manufacturing Co to start Jan 30

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The initial public offering (IPO) subscription of Advent Pharma is set to begin on February 11 which will raise a fund worth Tk 200 million from the public.

IPO subscription of eligible investors through electronic subscription system under fixed price method of the animal health care drugs manufacturer will be continued till February 19.

Bangladesh Securities & Exchange Commission (BSEC) approved the Advent Pharma's IPO proposal on January 2 to raise Tk 200 million from public through IPO.

Using the fixed-price method, Advent Pharma will float 20 million ordinary shares of Tk 10 each to raise the said amount.

A market lot is 500 shares and an investor needs Tk 5,000 to apply for per lot of the company's IPO.

The company will use the IPO fund for acquisition of machinery and equipments of Tk 81.43 million, construction of building and other civil works Tk 100.07 million and IPO expenses Tk 18.50 million.

The company's weighted average earnings per share (EPS) stood at Tk 0.91 as per last four financial statements.

The company has also reported its net asset value (NAV) per share of Tk 12.45 without revaluation, according to financial statement for the year ended on June 30, 2017.

Imperial Capital, Alfa Capital Management and CAPM Advisory are the issue managers of the company's IPO.

The company's pre-IPO paid-up capital is Tk 486 million and authorised capital is Tk 1.0 billion.

Advent Pharma is engaged in manufacturing, importing and marketing of animal health care drugs, nutritional supplements and feed additives for livestock like powder, bolus and liquid dosage forms.

The company was incorporated as a private limited company in January, 2007 and subsequently converted into a public limited company in May, 2016.

Alif Manufacturing:

Rights share subscription of Alif Manufacturing Company will begin on January 30, 2018 which will raise Tk 1.09 billion through rights issuance.

Rights subscription of Alif Manufacturing Company, which was known as CMC Kamal Textile Mills, will be continued till February 15, 2018.

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