Stocks
Asiatic Laboratories’ IPO share bidding to starts from Oct 10
Price bidding in the electronic subscription system (ESS), to determine the share price of Asiatic Laboratories Ltd, is scheduled to begin on 10 October and continue till 13 October, according to a Dhaka Stock Exchange (DSE) disclosure on Sunday.
On 31 August, the Bangladesh Securities and Exchange Commission (BSEC) allowed the company to determine the cut-off price of its shares through bidding by eligible investors – a requirement for going public under the book-building method.
Only institutional investors can participate in exploring the cut-off price of the company’s shares in the electronic bidding process. The cut-off price will be set based on bids submitted by investors.
Institutional investors are supposed to purchase the company’s shares at the cut-off price, while general investors can buy the shares at a 30pc discount.
The company wants to raise Tk95 crore from the capital market mainly to begin anticancer drug production.
It will use Tk58.05 crore for the acquisition and installation of machinery, Tk6.26 crore for factory construction, and Tk28 crore for repayment of bank loans.
Asiatic Laboratories is engaged in the production and marketing of biological, non-biological, and sterile products like tablets, capsules, syrups, creams, eye products, injections, and more.
Currently, the company produces 6 million tablets, 5 million capsules, 2 million injections, 1.5 million tube creams, and 1.6 million bottles of syrup every year.
Its annual revenues in fiscal 2020-21 grew to Tk145 crore from Tk119.6 crore five years ago.
Local merchant bank Shahjalal Equity Management is the issue manager and BMSL Investments is the registrar for the company’s IPO.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
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