Walton Hi-Tech Industries Limited will provide information about the company to eligible institutional investors at a road show as part of its plan to go public.
The show will be held at 6:30pm on January 15 at Walton Corporate Office in Dhaka's Bashundhara Residential Area.
Walton aims to collect Tk 1.0 billion from the market through initial public offering using 'book building' method. Book building is a process through which an issuer attempts to determine the price to offer for its security, based on demand from institutional investors, reports UNB.
A road show is a requirement under the book building regulations before price discovery.
Eligible institutional investors like merchant bankers, asset management companies, stock dealers, banks, mutual funds and collective investment scheme, financial institutions, insurance companies, alternative investment fund managers and other institutions approved by the commission will participate in the event.
As of July to September of the current fiscal year 2018-19, the company registered its EPS (Earning Per Share) and NAV (Net Asset Value) at Tk 10.41 and Tk 208 respectively. Currently, the company's authorised and paid up capitals are Tk 6.0 billion (Tk 600 crores) and Tk 3.0 billion (Tk 300 crores) respectively.
AAA Finance and Investment Limited has been appointed as manager to the issue of the company and Prime Bank Investment Limited has been appointed as registrar to the issue of the company.
Md Yakub Ali, company secretary of Walton, invited the eligible institutional investors to the IPO road show, noting how the company had been playing a remarkable role in the GDP growth, employment creation, foreign currency earnings, use of green technology, and spread of sports, among others.
Abul Bashar Hawlader, chief financial officer and executive director of Walton, said the brand was working with the aim of becoming a global player by 2021.
