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Silco Pharmaceuticals to make debut Thursday

FE Online Report | Published: June 12, 2019 12:03:42 | Updated: June 13, 2019 11:58:55


Silco Pharmaceuticals Limited will make its share trading debut on Thursday on the bourses under ‘N’ category, officials said.

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 securities regulator -- Bangladesh Securities and Exchange Commission (BSEC) -- approved the Silco Pharma’s application to raise the fund on December 20, 2018.

The initial public offering (IPO) subscription of the company was held between March 07 and March 19.

The 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 IPO prospectus.

The company’s earnings per share (EPS) stood at Tk 1.64 and the net asset value per share was Tk 27.05 as on June 30, 2018.

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. Every year, Silco Pharma is introducing more than 10 to 20 new products.

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

This sector accounts for 15.50 per cent of the DSE’s total market capitalisation.

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