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Silco makes trading debut today

FE Report | Published: June 13, 2019 10:27:10 | Updated: June 14, 2019 11:47:47


Silco Pharmaceuticals Ltd. will make its share trading debut today (Thursday) on both the bourses under 'N' category, officials said.

The DSE trading code for the company is "SILCOPHL" and the DSE company code is 18495 while the CSE scrip ID is 13035 and the scrip code "SILCOPHL".

The Silco Pharma raised a fund worth Tk 300 million by floating 30 million ordinary shares of Tk 10 each, using the fixed-price method.

The pharma company will utilise the IPO proceeds for construction of new factory building in the existing vacant area (48.22 per cent), import of new machinery (32.45 per cent), purchase of delivery van (12.10 per cent) and IPO expenses (7.23 per cent), according to the IPO prospectus.

As per un-audited financial statements of the company for the period from July 2018 to March 2019 (nine months), net profit after tax was Tk 78.65 million, pre-IPO EPS was Tk 1.22 and post-IPO EPS was Tk 0.83.

The net asset value (NAV) per share was Tk 28.27 as on March 31, 2019.

The City Bank Capital Resources, EBL Investments and Citizen Securities & Investment are jointly working as issue managers of the company's IPO process.

Silco Pharma, based in Sylhet, is one of the fastest growing pharmaceutical companies in Bangladesh since 1997 and is now on its way to becoming a high-performance global player, according to its official website.

The company started its journey with only 10 products. Now, it manufactures 108 products.

Silco Pharmaceuticals will be the 32nd listed company under the 'Pharmaceutical & Chemicals' sector on the prime bourse.

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