Index Agro Industries will make its debut trading tomorrow (Wednesday) on completion of listing process, the officials said.
The officials of Dhaka Stock Exchange (DSE) have confirmed the date of the company's debut trading.
Meanwhile, the company held its IPO (initial public offering) lottery draw on March 22 to allocate IPO shares.
The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Index Agro Industries on December 23, 2020.
As per the BSEC approval, the company raised Tk 500 million under the book-building method to expand its business.
The IPO subscription of the company was held between February 22 and February 28, 2021.
The cut-off price of the shares of Index Agro Industries was fixed at Tk 62 each through electronic bidding by eligible investors.
As per the book-building method, general investors, including non-resident Bangladeshis, get IPO shares at a 10 per cent discount on the cut-off price of companies.
However, the general investors and non-resident Bangladeshis got the company's IPO shares at Tk 50 each, a 20 per cent discount on its cut-off price as the company gave extra 10 per cent discount on its cut-off price.
The eligible investors received 50 per cent shares at their own bid price while the remaining 50 per cent shares were reserved for IPO general investors and non-resident Bangladeshis, according to the book-building method.
The company will use the IPO proceeds to acquire machinery and equipment, construction of buildings and civil works, and cater for the expenditure of the IPO process.
According to the audited financial statement as of June 30, 2019, the company's weighted average earnings per share (EPS) for the past five years was Tk 7.07.
The company's net asset value (NAV) per share was Tk 45.03 with revaluation and Tk 44.06 without revaluation.