The Financial Express

Silva Pharma IPO subscription begins Sunday

| Updated: July 30, 2018 11:42:29

Silva Pharma IPO subscription begins Sunday

The IPO subscription of Silva Pharmaceuticals Limited will start on Sunday and end on August 05, according to a disclosure posted on the DSE website on Thursday.

The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal on June 11 last.

The company will raise a capital worth Tk 300 million by offloading 30 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

The pharmaceutical company will purchase machineries, construct building, repay bank loans and bear the IPO expenses with the fund.

The Silva Pharmaceuticals reported the net asset value (NAV) of Tk 16.48 per share, (without revaluation)), weighted average EPS worth Tk 1.03 as per the financial statement for the year ended on June 30, 2017.

Prime Finance Capital Management, Imperial Capital and SBL Capital Management are working as managers to the issue.

The company's products, among others, are Timem, Duet, Omesil, Macrozith, Cipronil, Spuramix and Probac.

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