The IPO lottery of Advent Pharma Limited will be conducted today (Tuesday).
The event will be held at 10:30AM at the auditorium of the Institution of Engineers Bangladesh (IEB) in Dhaka, according to a web posting of CSE.
The issue of the Initial Public Offering (IPO) of Tk 200 million (20 million ordinary shares of Tk 10 each) was oversubscribed by 35.179 times and received a total of Tk 7,035,885,000.
Resident Bangladeshis subscribed Tk 4,930,700,000 while Affected Small Investors Tk 501,030,000, NRBs Tk 326,625,000, Eligible Investors (Mutual Fund & Collective Investment Scheme) Tk 120,000,000, Eligible Investors (other than Mutual Fund & Collective Investment Scheme) Tk 1,157,530,000.
The subscription for shares of the animal health care drugs manufacturer under the fixed-price method of the stock exchanges concluded on February 19, 2018.
Bangladesh Securities & Exchange Commission (BSEC) approved the Advent Pharma's IPO proposal on January 2.
The company will use the IPO fund for acquisition of machinery and equipments of Tk 81.43 million, construction of building and other civil works Tk 100.07 million and IPO expenses of Tk 18.50 million.
The company's weighted average earnings per share (EPS) stood at Tk 0.91 as per last four financial statements.
The company has also reported its net asset value (NAV) per share of Tk 12.45 without revaluation, according to financial statement for the year ended on June 30, 2017.
Imperial Capital, Alfa Capital Management and CAPM Advisory are the issue manager of the company's IPO.
The company's pre-IPO paid-up capital is Tk 486 million and authorised capital is Tk 1.0 billion.
Advent Pharma is engaged in manufacturing, importing and marketing of animal health care drugs, nutritional supplements and feed additives for livestock like powder, bolus and liquid dosage forms.
The company was incorporated as a private limited company in January, 2007 and subsequently converted into a public limited company in May, 2016.
After completing all procedure, it will be the 29th listed company in the Dhaka bourse under Pharmaceuticals & Chemicals sector which accounted for 15.40 per cent of the DSE's total market capitalisation.
