The share trading of Krishibid Seed – a sister concern of Krishibid Group – will commence on Tuesday on the SME Platform of the Dhaka Stock Exchange (DSE).
The company reported an 88% year-on-year growth in profit in the first quarter of the current fiscal year.
During the July-September quarter, its profit rose to Tk85.7 lakh and the earnings per share (EPS) to Tk0.60, up from Tk45.5 lakh and Tk0.46, respectively in the same period of the previous year.
On 31 January this year, aiming to create a long-term financing source for SMEs, the Bangladesh Securities and Exchange Commission (BSEC) approved Krishibid Seed to raise a capital of Tk11.60 crore.
Krishibid Seed issued 1.16 crore general shares at a face value of Tk10.
Incorporated in 2016, the principal activity and the nature of the business of the company is to produce and import different kinds of quality seeds, such as vegetables, maize, rice, wheat, oil, pulse, grass and potato.
Krishibid Seed will use the money to construct a cold storage and a storage building, and for seeds research and development.
Krishibid Feed, another sister concern of the Krishibid Group, earlier got listed on the SME board of the premier bourse by raising Tk22 crore from the stock market.