Bangladesh
6 years ago

Advent Pharma makes trading debut tomorrow

Published :

Updated :

Advent Pharma, an animal health care drugs manufacturer, will make its share trading debut tomorrow (Thursday) on both bourses under “N” category, officials said.

The pharmaceutical company, which raised a capital worth Tk 200 million from the public using the fixed price method, floated 20 million ordinary shares of Tk 10 each.

The IPO subscription for shares of the company was open for resident and non-resident Bangladeshis from February 11 to February 19.

Earlier, Bangladesh Securities & Exchange Commission (BSEC) approved Advent Pharma’s IPO proposal on January 2 last.

The company will use the IPO fund for acquisition of machinery and equipment of Tk 81.43 million, construction of building and other civil works Tk 100.07 million, and its IPO expenses of 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 working as issue managers of the company’s IPO.

Advent Pharma’s pre-IPO paid-up capital is Tk 486 million and authorised capital is Tk 1.0 billion.

The company 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.

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

After completing all procedure, it will be the 29th listed company in the Dhaka bourse under Pharmaceuticals & Chemicals sector which accounted for 15.40 per cent of the DSE’s total market capitalisation.

[email protected]

Share this news