Public subscription of Walton Hi-Tech industries Limited begins today with the company aiming to raise funds worth Tk 1 billion from the capital market under the book building method, said a press release.
The IPO subscription will continue until August 16, issue manager sources said.
A beneficiary account holder can apply only for a single lot with each lot consisting of 20 shares.
Price of each Walton share for both resident and non-resident Bangladeshis has been set at Tk 252 and a BO account holder can apply for a single lot at Tk 5,040.
As per the company’s financial statements as of June 30 of 2019, WHIL’s NAV with revaluation reserve per share was recorded at Tk 243.16 while its earnings per share was Tk 45.87.
The Bangladesh Securities and Exchange Commission on June 23 approved the IPO proposal of Walton Hi-Tech to raise funds worth Tk 1 billion in capital by issuing nearly 2.93 million ordinary shares.
As per the stock market regulator approval, eligible investors will get 1.38 million shares of the company at the cut-off price of Tk 315 each, set earlier through electronic bidding.
General investors will get the remaining 1.55 million shares through IPO at Tk 252 each, a 20 per cent discount on cut-off price, as the company gave 10 per cent additional discount considering the interest of the capital market and small investors.
The IPO proceeds will be utilised for expansion of its businesses, repaying bank loans and meeting IPO related expenses, said the release.
AAA Finance is in charge of issue manager of the company.
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