ACME Pesticides allowed to go public

FE REPORT | Tuesday, 20 July 2021

The securities regulator has approved the IPO (initial public offering) proposal of ACME Pesticides which will raise a capital worth Tk 300 million.

The approval came Monday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).

The company will raise the fund offloading 30 million shares of Tk 10 each under the fixed price method.

The company will utilise the IPO fund for the purpose of building construction, purchasing machinery, repaying bank loans and catering the IPO expense.

As per the financial statement for the year ended on September 30, 2020 the company's net asset value (without revaluation) is Tk 16.84 per share.

For the same time period, the company reported its EPS of Tk 0.48.

At Monday's meeting, the securities regulator has also approved the proposal of zero coupon bond to be issued by ThengamaraMohilaSabujSangha (TMSS).

The discounted value of the bond is above Tk 1.73 billion while the total face value is Tk 2.0 billion.

The discount rate of the TMSS's bond is 7.5 per cent. The bond will be distributed among corporate entities, financial institutions and eligible investors through private placement.

TMSS will utilise the fund to disburse loans among rural women for the purpose of their empowerment.

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