Dhaka, Bangladesh (BBN) - The Acme Laboratories is set to raise capital from institutional and individual investors using the book-building method, a widely used initial public offering mechanism.
Some 50 million ordinary shares of BDT 10 each will be offloaded through the system, and the raised funds will be used for setting up three new plants at Dhamrai in Savar, a company senior official said.
The expansion will increase the company's revenue and profit, said the company's information memorandum.
Acme Laboratories is the third firm to use the book-building system after the stock market regulator modified the pricing rules following the market crash of 2011.
Book-building is a process through which an issuer attempts to determine the price to offer for its security by gauging the demand from institutional investors.
BBN/SSR/AD-12Oct14-12:07 pm (BST)