Shoeniverse Footwear set to enter stock market, sign deal with issue manager
Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Shoeniverse Footwear Ltd, an export-oriented footwear manufacturer under the National Polymer Group, has signed an issue management agreement with LankaBangla Investments for its proposed initial public offering (IPO).
The agreement was signed by Riad Mahmud, managing director of Shoeniverse Footwear, and Iftekhar Alam, chief executive officer of LankaBangla Investments. The signing ceremony was attended by Syed Ahmed, chief financial officer of National Polymer Group, Estiuque Uddin, head of primary market services at LankaBangla Investments, along with senior officials from both organisations.
Established in 2017, Shoeniverse operates a green manufacturing facility in Mymensingh with a production area of around 231,718 square feet and a workforce of more than 2,700 employees. The company manufactures synthetic footwear for export markets, focusing on quality, innovation and sustainable production.
Riad Mahmud also serves as president of the Bangladesh Association of Publicly Listed Companies (BAPLC).
The company is undertaking a major capacity expansion programme to increase production and strengthen its competitiveness in the global footwear market amid rising export demand.
Subject to approval from the Bangladesh Securities and Exchange Commission (BSEC), the proposed IPO is expected to support Shoeniverse’s expansion plans, enhance its production capacity and reinforce its position in Bangladesh’s growing footwear export industry.
LankaBangla Investments is one of the country’s leading investment banks and has been actively involved in managing IPOs and other capital market transactions.