Dhaka, Bangladesh (BBN)– Initial Public Offering (IPO) lottery of National Feed Mill Limited (NFML) will be held tomorrow (Thursday) to allocate shares among the investors, officials said.
The lottery will be held at 10:30am at seminar Hall of Institution of Engineers, Ramna Dhaka. Bangladesh University of Engineering and Technology (BUET) will conduct IPO lottery.
The IPO subscription of the company was held on October 26 form October 30 for resident Bangladeshi and it was continued till November 8 for non-resident Bangladeshi (NRB). A market lot is 500 shares.
The company floated 18 million ordinary shares at an offer price of BDT 10 and raised a fund worth BDT 180 million from public using the fixed price method.
The total IPO subscription received above BDT 8.44 billion against public issue of BDT 180 million, hitting around 47 times higher.
The fund raised through the IPO is being used for repayment of bank loan and expansion of business along with boosting working capital, according to the company’s IPO prospectus.
As per the audited financial statement for the year ended on June 30, 2013 the earnings per share (EPS) and net asset value (NAV) of the National Feed Mills are BDT 1.85 and BDT 14.55 respectively.
ICB Capital Management and PLFS Investments jointly managed the National Feed Mill’s IPO.
The company engaged in manufacturing of all kinds of feed for poultry, shrimp, fishery & cattle, according to the company’s IPO prospectus.
BBN/SSR/AD-27Nov14-10:36 am (BST)
