Dhaka, Bangladesh (BBN)-Bangladesh Steel Re-Rolling Mills Limited (BSRMLTD) will make trading debut on Monday on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under ‘N’ category, officials said.
DSE trading code for the company is ‘BSRMLTD’ and DSE company code is 13238 while CSE scrip code is ‘BSRMLTD’ and CSE scrip id is 16032.
Bangladesh Steel Re-Rolling Mills is the 30th listed firm in the ‘engineering’ sector on DSE, which accounted for more than 4.0 percent of the total market capitalisation of the DSE.
The Chittagong-based steel manufacturing conglomerate floated 17.5 million ordinary shares at an offer price of BDT 35, including a premium of BDT 25 for each ten taka share.
The initial public offering (IPO) subscription of the company was took placed on February 1 to February 5, 2015 for resident Bangladeshi and it was continued till February 14, 2015 for non-resident Bangladeshi (NRB).
The company received over BDT 12.32 billion through IPO against public issue of BDT 612.50 million, which was oversubscribed by 20 times.
The company has reported net profit after tax for the period of July’14 to Sep’14 (Quarter 3), is BDT 77.54 million, pre IPO EPS is BDT 0.50 and post IPO EPS is BDT 0.45.
The securities regulator-Bangladesh Securities & Exchange Commission (BSEC)-approved the IPO proposal of Bangladesh Steel Re-Rolling Mills on December 9, 2014.
The BSRM started its journey in 1952, maintaining the leadership position in the steel industry by producing the best quality steel products, continuously enhancing customer satisfaction and becoming a reliable business partner of the customers and suppliers, according to the company’s website.