Indo-Bangla Pharma’s IPO lottery draw Tuesday

FE Online Report | Published: September 10, 2018 18:14:03 | Updated: September 13, 2018 12:01:43


The initial public offering (IPO) lottery draw of Indo-Bangla Pharmaceuticals will be held tomorrow (Tuesday), said officials.

The event will be held at 10:30 am at the Auditorium of the Institution of Engineers, Bangladesh (IEB) in Dhaka.

After the lottery draw, result will be published on the websites of Dhaka and Chittagong Stock Exchanges, issue managers and the company.

The Indo-Bangla Pharma raised a fund worth Tk 200 million by issuing 20 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

According to Chittagong Stock Exchange (CSE) website, the company’s IPO oversubscribed by more than 34-time as it received about Tk 6.85 billion against public issue of Tk 200 million.

The IPO subscription of the company under fixed price method was opened on August 09 to August 16.

The Bangladesh Securities and Exchange Commission (BSEC) approved the company’s IPO proposal on October 3, last year.

The company will utilise 29.29 per cent of the IPO proceeds for construction and other civil works, 62.36 per cent for machineries and 8.35 per cent for bearing IPO expenses, according to the IPO prospectus.

As per the financial statement for the year ended on June 30, 2017, the company’s net asset value (NAV) per share stood at Tk 12.84 and earnings per share (EPS) stood at Tk 1.21.

The company’s pre-IPO paid-up capital is Tk 730 million and authorised capital is Tk 1.0 billion.

AFC Capital, EBL Investments and CAPM Advisory are working together as issue manager of the IPO.

The company is engaged in manufacturing and selling of all kinds of medicine (excluding antibiotic), medical preparations drugs & chemicals (Human Health).

babulfexpress@gmail.com

Share if you like