Drug & Medicine manufacturing company, Asiatic Laboratories Ltd, is coming to the stock market through book building. The company’s bidding (auction) date has been fixed. Bidding for the company will begin Monday, October 10, at 3 pm and then continue until 3 pm on Thursday, October 13.
This information is collected from DSE sources.
The stock market regulator Bangladesh Securities and Exchange Commission, BSEC has given access to the company for bidding on August 31. The company will raise Tk 95 crore from the stock market.
As per book building method IPO rules, shares reserved for institutional investors will be sold first. Shares will be sold to regular investors in the IPO at the price at which the sale of the reserved shares will be completed, 30pc or 20 takas, whichever is lower, than the price (cut-off price).
According to sources, the net asset value (NAV) per share of the company after revaluation was Tk 56 61 paisa as per the audited financial report for the financial year ending June 30, 2021. And excluding revaluation, the company’s net asset value per share (NAV) was Tk 35 48 paisa. The five-year weighted average earnings per share (EPS) was Tk 3.21 paisa.
Based on the conditions laid down by the BSEC for approval of the IPO, the company cannot declare, approve or distribute any dividend prior to listing.
