Bangladesh
5 years ago

Silva Pharma makes debut today

Its post-IPO EPS stands at Tk 0.72

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Silva Pharmaceuticals has made its share trading debut on the stock exchanges today (Wednesday) under "N" category.

The company's profit after tax stood at Tk 92.99 million and post-IPO earnings per share (EPS) was Tk 0.72 for the year ended on June 30, 2018 as against profit after tax of Tk 80.28 million in the previous year.

Silva Pharma has been 30th listed company under the 'pharmaceutical & chemicals sector on the Dhaka bourse. The sector accounted for 14.40 per cent of the prime bourse's total market capitalisation.

The Silva Pharma raised a capital worth Tk 300 million by offloading 30 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

The IPO subscription of the company was opened on July 29. It continued until August 05, according to the DSE.

The company's IPO was oversubscribed by more than 25 times as the company received about Tk 7.73 billion against the IPO issue of Tk 300 million.

The securities regulator, Bangladesh Securities and Exchange Commission (BSEC), approved the IPO proposal of the company on June 11.

The pharmaceutical company will purchase machinery, construct building, repay bank loans and bear the IPO expenses with the fund raised from the public.

Prime Finance Capital Management, Imperial Capital and SBL Capital Management are working as managers to the issue.

The company is engaged in manufacturing and marketing of products in the categories of antibiotics, analgesics, anti diabetics, narcotics, anti-pyretic, etc., mainly for the local market, according to the IPO prospectus.

Indo-Bangla Pharma: IPO shares of Indo-Bangla Pharmaceuticals have been credited through Central Depository Bangladesh Ltd (CDBL) to the respective beneficiary owners (BO) accounts recently.

The company will also make its share trading on the stock exchanges soon.

The Indo-Bangla Pharma raised a fund worth Tk 200 million by issuing 20 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

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