Niaco Alus’ IPO application started on May 16

The initial public offering (IPO) of Niaco Allus Limited, the first SME company to enter the capital market, has been scheduled. The company’s IPO application will start on May 16 (Sunday). Will run until Thursday, May 20th. This information has been known from DSE sources.

It is learned that Niaco Allus will raise Tk 7.5 crore by issuing 75 lakh shares at a price of Tk 10. The company will raise this money from eligible investors through a Qualified Investor offer. With the money raised, the company will spend on land development, equipment purchase and IPO costs.

Earlier, the capital market regulator Bangladesh Securities and Exchange Commission (BSEC) had approved Niaco Alus Limited for long-term financing in the SME sector.

As of September 30, 2020, the company’s earnings per share (EPS) has been Tk 0.91. At that time, the company’s net asset value per share (NAV) was Tk 12.43.

MTB Capital Limited is working as the issue manager of the company.

Sunbd/NJ