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The Financial Express

Subscription of ACME Pesticides begins Oct 12


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IPO (initial public offering) subscription of ACME Pesticides will commence on October 12 (Tuesday) to raise Tk 300 million under fixed price method.

According to information of Dhaka Stock Exchange (DSE), the company's IPO subscription will be continued till October 18.

Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of ACME Pesticides on July 19 last.

As per the BSEC approval, the company will offload 30 million shares of Tk 10 each under the fixed price method to raise Tk 300 million.

The fund will be utilised for the purpose of building construction, purchasing machinery, repaying bank loans and bearing the IPO expense.

As per the financial statement for the year ended on September 30, 2020 the net asset value (without revaluation) of ACME Pesticides is Tk 16.84 per share.

The company reported its EPS of Tk 0.48 for the said time period.

As per the regulatory approval, the company will not be allowed to issue bonus shares within four years from the date of its debut trading on stock exchanges.

Shahjalal Equity Management is working as issue manager of ACME Pesticides.

As eligible investor, a recognised provident or pension having intension to submit an application shall maintain a minimum investment of Tk 5.0 million at market price in listed securities by the end of fifth working day prior to commencement of subscription.

Other eligible investors must have an investment worth Tk 10 million in listed securities at market price.

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