SS Steel to allot 25m ordinary shares

IPO lottery draw held


FE Report | Published: November 30, 2018 10:52:49 | Updated: December 04, 2018 12:42:51


SS Steel Ltd. will allot 25 million ordinary shares among successful applicants picked through the lottery draw for the company's initial public offering (IPO) held on Thursday.

The lottery draw was held at the AGB Colony at Motijheel in Dhaka.

The IPO results have already been published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company.

The SS Steel, an engineering sector company, raised a capital totalling Tk 250 million under the fixed-price method.

The IPO proceeds will be utilised to purchase machinery (85.73 per cent), construct a new building (6.05 per cent) and meet the IPO expenses (8.22 per cent).

As per the company's financial statement for the year ending on June 30, 2017, the net asset value (NAV) per share stands at Tk 12, without revaluation, and at Tk 15.35 after revaluation.

The company reported its earnings per share (EPS) at Tk 1.20 and weighted average of EPS at Tk 0.82.

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