Krishibid Seed makes debut Tuesday on SME Platform


FE ONLINE REPORT | Published: April 11, 2022 12:30:43 | Updated: April 13, 2022 09:07:50


Krishibid Seed makes debut Tuesday on SME Platform

Krishibid Seed -- a concern of Krishibid Group -- will make its shares trading debut on the SME Platform of Dhaka Stock Exchange and Chittagong Stock Exchange on Tuesday.

DSE trading code for Krishibid Seed is “KBSEED” and the company code is 69005 while the CSE scrip ID is 32604 and the scrip code is “KBSEED”.

Krishibid Seed will be the 11th listed company on the SME Platform of the stock exchanges.

Only qualified investors (QI) are allowed to trade on the SME Platforms.

The Bangladesh Securities and Exchange Commission (BSEC), on January 31, approved the company’s proposal for raising capital through a qualified investor offer (QIO).

As per the regulatory approval, Krishibid Seed raised Tk 116 million by issuing 11.6 million ordinary shares of Tk 10 each under the fixed price method through QIO.

The subscription for shares of the company through the electronic subscription system (ESS) under the fixed-price method was held between March 20 and March 24.

It is the first SME firm whose shares subscription was held after the securities regulator slashed drastically the minimum investment limit to Tk 2.0 million for an investor to be qualified for the SME Platforms. Earlier, the threshold was Tk 10 million.

The move is to attract more investors to the platform where the number of SME scrips is now on the rise.

The company will utilise the proceeds for the purpose of building a cold storage depot, storage building, and seed research along with catering for the expense of issue management.

The company will not be allowed to issue bonus shares for three years from the date of debut trading on exchanges SME platform, according to BSEC approval.

According to the financial statement for the period July 1, 2021, to September 30, 2021, the company's earnings per share (EPS) is Tk 0.60 and net asset value (without revaluation) per share is Tk 12.60.

SBL Capital is working as issue manager of the Krishibid Seed.

Incorporated in 2016, the principal activity of the company is to produce and import different kinds of quality seeds, like vegetables, maize, rice, wheat, oil, pulse, grass and potato.

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