First SME company approved by BSEC

Sunbd Desk || Published: 2021-04-15 09:51:22 || Updated: 2021-04-15 09:51:22

The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the first SME company. The approval was given at the 770th commission meeting of BSEC today.

According to BSEC sources, 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.

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

The company will not be able to issue any bonus shares for 3 years from the start of trading on SMEs. According to the decision of the commission, all the investors have more than one crore rupees in the capital market; They can invest here. However, investors with less than that capital cannot invest here.

It is known that the company makes nickel aluminum copper.

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

Sunbd/NJ

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