Silva Pharmaceuticals IPO subscription begins today

FE Report | Published: July 29, 2018 10:44:06 | Updated: July 30, 2018 12:53:25


Representational image

The IPO (initial public offering) subscription of Silva Pharmaceuticals starts today (Sunday) and will end on August 05, according to Dhaka Stock Exchange (DSE).

Earlier on June 11 last, the securities regulator has approved the IPO proposal of the Silva Pharmaceuticals under the fixed price method.

The company will raise a capital worth Tk 300 million by offloading 30 million ordinary shares at an offer price of Tk 10 each.

The company's market lot is comprised of 500 shares.

The pharmaceutical company will purchase machineries, construct building, repay bank loans and bear the IPO expenses with the fund to be raised from public.

The company reported net asset value (NAV) of Tk 16.48 per share, (without revaluation)), weighted average of EPS worth Tk 1.03 as per the financial statement for the year ended on June 30, 2017.

The company is engaged in manufacturing and marketing of products in the categories of Antibiotics, Analgesics, Anti diabetics, Narcotics, Anti pyretic, Anti-inflammatory drugs, Antiulcerants, Antiemetic, Gastroprokinetic, Anti histamine, Anti spasmodic expectorants, Vitamins & Minerals medicines, which is selling mainly in local market, according to the IPO prospectus.

Prime Finance Capital Management, Imperial Capital and SBL Capital Management are working as managers to the issue.

mufazzal.fe@gmail.com

Share if you like