BD Thai Food & Beverage will make its shares trading debut on Dhaka Stock Exchange and Chittagong Stock Exchange tomorrow (Monday) under the settlement category “N”.
The DSE trading code for the company is “BDTHAIFOOD” and DSE company code is 14297 while the CSE the scrip ID is 14029 and scrip code is “BDTHAIFOOD,” according to disclosures on Sunday.
BD Thai Food, which received regulatory approval from the Bangladesh Securities and Exchange Commission on October 3, 2021, raised Tk 150 million from the capital market under the fixed price method.
As per the regulatory approval, the food and beverage producer offloaded 15 million ordinary shares at an offer price of Tk 10 each. Its IPO subscription was held between December 23 and December 30, 2021.
Each general investor got a minimum 26 IPO shares of BD Thai Food while non-resident Bangladeshi investors received 20 shares against application of Tk 10,000.
The investors applied for 29.09 times higher applications than the IPO shares offered by the company, according to the DSE.
The company will utilise the IPO proceeds for purchasing machinery and equipment, developing land, complete construction of a new factory building and bearing the IPO expenses.
According to the financial statement ended on June 30, 2020, the company’s net asset value (NAV) per share (NAV without revaluation) was Tk 12.82 and (NAV with revaluation) of Tk 14.23, the weighted average earnings per share (EPS) for the last five years stood at Tk 0.63.
The company’s paid-up capital is Tk 665 million. Lock in period for all existing shareholders for three years from the first trading date in the exchanges.
Besides, the company’s sponsor-directors will not be entitled to get dividend until the company’s EPS reaches Tk 1.0 or above, as per the BSEC approval.
The BSEC also allowed the company to issue a 15 per cent of IPO shares to employees but they would not be able to sell the shares within the first two years of trading.
Unicap Investment and BLI Capital are jointly acting as the issue manager for the company’s IPO process.