Bangladesh Securities and Exchange Commission on Tuesday approved Tk 20 crore initial public offering of Indo-Bangla Pharmaceuticals Limited.
BSEC gave the approval in a meeting presided over by its chairman M Khairul Hossain.
Under the approval, the company will float 2 crore shares of at an issue price of Tk 10.
The company will use the IPO proceed in constructing administrative building, factory, warehouse and garage, buying machineries, and in meeting the expenses of IPO, said a BSEC press release.
As per the entity’s financial statement for the year ending on June 30, 2016, earnings per share and net asset value per share was Tk 2.62 and Tk 11.63 respectively.1
AFC Capital Limited, EBL Investment Limited and CAPM Advisory Limited are the issue manager of the company.
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