The initial public offering (IPO) subscription of Coppertech Industries is set to begin on March 31, aiming to raise Tk 200 million from the capital market.
The public subscription of Silco Pharmaceuticals, which started on March 07, will be ended tomorrow (Tuesday). The company will raise Tk 300 million from the public.
Coppertech Industries: The subscription for shares of the Coppertech Industries by the eligible investors through electronic subscription system will be continued until April 09.
The securities regulator-Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Coppertech on December 26, 2018.
As per the BSEC approval, the company will raise a capital worth Tk 200 million by offloading 20 million ordinary shares under the fixed price method.
A market lot consists of 500 shares and an investor needs Tk 5,000 to apply for each lot of the company's IPO shares.
For non-resident Bangladeshi (NRB) and foreign applicants, the required amount (per lot) for subscription is US$ 59.92 or GBP 45.40 or EUR 53:00, according to the Dhaka Stock Exchange (DSE).
The company will utilise the IPO proceeds to purchase plant and machinery, repay bank loans, construction of building and bear the IPO expenses.
As per the financial statement for the year ended on June 30, 2018 the company's net asset value (NAV) per share, without revaluation, was Tk 12.06.
For the same period, the earnings per share (NAV) of the Coppertech Industries stood at Tk 2.60, whereas the diluted EPS was Tk 1.03. The weighted average EPS was Tk 0.87.
MTB Capital is working as issue manager of the Coppertech Industries' IPO.
Located in Hobiganj, the Coppertech Industries is a copper pipe, tube, bus bar, strip, and wire manufacturer in Bangladesh. The company started its commercial operation in June 2014.
Silco Pharmaceuticals: The IPO subscription for shares of the Silco Pharma by the eligible investors through electronic subscription system will be ended at 5:30pm tomorrow (Tuesday).
The securities regulator approved the Silco Pharma's application to raise Tk 300 million from the public on December 20, 2018.
Using the fixed-price method, Silco Pharma will float 30 million ordinary shares of Tk 10 each.
As of June 2017, five financial years' weighted average earnings-per share (EPS) of the company stood at Tk 1.46 and net asset value (NAV) per share at 25.41.
A market lot consists of 500 shares and an investor needs Tk 5,000 to apply for each lot of the company's IPO shares.
For non-resident Bangladeshi (NRB) and foreign applicants, the required amount (per lot) for subscription is US$ 60.10 or GBP 46.61 or EUR 53:36, according to the DSE.
The company will utilise the IPO proceeds in construction of new factory building (48.22 per cent), import of new machinery (32.45 per cent), purchase of delivery van (12.10 per cent) and bear the IPO expenses (7.23 per cent).
The company's pre-IPO paid-up capital is Tk 643.70 million and authorised capital is Tk 1.05 billion.
City Bank Capital Resources, EBL Investments and Citizen Securities & Investment are jointly working as issue managers of the company's IPO.
Silco Pharma, based in Sylhet, is one of the fastest growing pharmaceutical companies in Bangladesh since 1997 and is now on its way to becoming a high-performance global player, according to its official website.
