Stocks
BSEC approves Tk95cr IPO of Asiatic Laboratories
The Bangladesh Securities and Exchange Commission (BSEC) yesterday approved Asiatic Laboratories Limited to raise Tk95 crore from the capital market with an initial public offering (IPO).
The company wants to use the funds mainly to begin anticancer drug production, according to the company’s prospectus.
It will use Tk58.05 crore for acquisition and installation of machinery, Tk6.26 crore for factory construction, and Tk28 crore for repayment of bank loans.
On 30 June 2021, the company’s net asset value per share was Tk56.61 with revaluation surplus and Tk35.48 without the surplus.
Its earnings per share (EPS) stood at Tk3.65 and a five year weighted average EPS at Tk3.21.
Asiatic Laboratories was incorporated as a private limited company in July 1970, and started commercial production in 1998. It converted to a Public Limited Company on 12 March, 2020.
Asiatic is engaged in the production and marketing of biological, non-biological, and sterile products such as tablets, capsules, syrups, creams, eye products, injections, and more.
Local pharmaceutical companies have been game changers in the pharma industry catering to around 98% of market demand.
At present, Asiatic Laboratories produces 6 million tablets, 5 million capsules, 2 million injections, 1.5 million tube creams, and 1.6 million bottles of syrup every year.
The company’s 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 Exchange DSE, Bourse on the last working day of the week, April 25th, ended with a massive drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
511 crore 43 lakh taka shares were traded on this day. 91 crore 31 lakh less tradings were done in DSE today compared to the previous workday, 23rd April , Shares worth Tk 602 crores 74 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 60.48 points or 5,518 The Shariah-based index DSES dropped 12.29 points or 1,217, and the blue-chip index DS30 decreased by 10.17 points or 1,974.
Of the issues traded, 69 advanced, 300 declined and 27 remained unchanged.
ADN Telecom Limited ranked top gainer on DSE, the share price increased by Tk 9.60 paisa or 8.66 percent. On this day, the share was last traded at Tk 120.50 paisa.
Bata Shoe Company Bangladesh Limited ranked top loser on the DSE, the share price dropped by Tk 36.9 paisa or 3.77 percent. On this day, the share was last traded at Tk 941.00 paisa.
DSE topped on trade is Orion Infusion Limited 31 crore 69 lakh takas of company shares have been traded.
A total of 35 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 26 lakh 36 thousand 734 shares of the companies were traded. The financial value of which is 16 crore 61 lakh taka
One of the Listed companies, Bangladesh National Insurance Company Limited has recommended 20% Cash Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported EPS of Tk. 4.04 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 26.28 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on June 25, through the digital platform. The record date for this has been fixed at May 27.
One of the Listed companies, Bata Shoe Limited has recommended 105% Final Cash Dividend (Total 435% Cash Dividend for the year ended December 31, 2023 inclusive of 330% Interim Cash Dividend, which has already been paid) for the year ended December 31, 2023
In terms of financial performance, The Company has also reported EPS of Tk. 29.31 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 237.93 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on July 16, through the digital platform. The record date for this has been fixed at May 16.
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