Dhaka, Bangladesh (BBN)- Western Marine Shipyard Limited (WMSL) will make trading debut at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) from November 02 (Sunday) under ‘N’ category, officials said.
DSE trading code for Western Marine Shipyard Limited is ‘WMSHIPYARD’ and DSE company code is 13236. A market lot is 100 shares.
It is the 28th listed company under the ‘engineering’ sector in the Dhaka bourse.
The initial public offering (IPO) subscription of the company was held on August 10 to August 14 for resident Bangladeshis and it was continued till August 23 for non-resident Bangladeshis.
Using fixed price method, Western Marine Shipyard floated 45 million ordinary shares at an offer price of BDT 35, including a premium of BDT 25 and raised a fund worth BDT 1,575 million from the public.
The IPO proceedings will be used for loan repayment 82.64 percent, infrastructure development 15.87 percent and expenses of IPO 1.49 percent, according to the company’s IPO prospectus.
The company’s earnings per share (EPS) and net asset value (NAV) per share were BDT 3.87 (weighted average) and BDT 40.27 in accordance with the financial statement for the year ended on June 30, 2013.
Prime Finance Capital Management Ltd, ICB Capital Management Ltd and EC Securities Ltd jointly managed the Western Marine Shipyard’s IPO.
Western Marine Shipyard builds Ocean-going multi-purpose vessel, passenger vessel and boat, oil tanker, fishing trawler, Dredger, Ro-Ro Ferry, Pontoon etc. It has 300 professional staffs, 3200 skilled and semi-skilled labours to ensure world class shipbuilding standards, according to the company’s website.
BBN/SSR/AD-28Oct14-11:50 am (BST)