The public subscription of Coppertech Industries is set to begin on March 31, officials said.
The company will raise a fund worth Tk 200 million through initial public offering (IPO) using the fixed price method.
The company's IPO subscription will be opened until April 09 for resident and non-resident Bangladeshis.
The securities regulator - Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Coppertech Industries 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.
The company will utilise the IPO proceeds to purchase plant and machineries, repay bank loans, construct building and 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.
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.
The core markets for the product of the company are power plants, AC fridge manufacturing factory and workshop, engineering workshop, electronic product producer and other local customers, according to IPO prospectus.
MTB Capital is working as issue manager of the Coppertech Industries.
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