IPO subscription of Dominage Steel Building begins Oct 19

The initial public offering (IPO) subscription of Dominage Steel Building Systems Ltd is set to open on October 19, aiming to raise Tk 300 million from the capital market.

The IPO subscription for shares of the company by the eligible investors through electronic subscription system will be continued until October 25, according to the company’s IPO prospectus.

The stock market regulator -- Bangladesh Securities and Exchange Commission (BSEC) approved the company’s proposal on August 26 to raise Tk 300 million from the capital market through initial public offering.

As per the regulatory approval, the Dominage Steel Building will issue 30 million ordinary shares with an offer price of Tk 10 each using the fixed price method.

The company will utilise the IPO proceeds for construction of a building, purchasing electrical equipment & installation, acquisition of new plant and bearing the IPO related expenses.

According to the audited financial statements for the year ended on June 30, 2019, earnings per share of the company were Tk 1.49, and its net asset value per share was Tk 19.81.

The weighted average earnings per share of the company, in the last five years, stood at Tk 1.47.

Shahjalal Equity Management is the issuer manager of Dominage Building Systems.

Incorporated in 2007, Dominage Steel is engaged in the steel building structure, or prefabricated steel structure, business.

The principal activities of the company are to build pre-engineered steel building like factories, warehouse, convention centre, workshops, CNG stations, showrooms, multi-storied building etc.

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