Mamun Agro Products on Thursday received approval from the Bangladesh Securities and Exchange Commission to raise Tk10 crore from the capital market with a qualified investor offer (QIO).
The company will issue 1 crore general shares, each priced at Tk10, and thus join the SME platform of the Dhaka Stock Exchange (DSE).
Incorporated in 2003, the principal activities of Mamun Agro are manufacturing and marketing of agricultural products.
Only institutional investors can buy the shares of the company.
Mamun Agro will use the money to construct a building and as working capital.
In the July-March period of fiscal 20-2021, the net profit of the company was Tk3.92 crore, which was Tk3.85 crore in the same period of the previous fiscal year.
During the period, its earnings per share were Tk0.98 and the net asset value without revaluation stood at Tk15.25.
The company will not be allowed to issue bonus shares for three years after it is listed on the SME platform.
Those who have invested Tk1 crore or more in listed securities at market price will be considered as qualified investors, including resident and non-resident Bangladeshis.
BMSL Investment Ltd and Uttara Finance Capital Management Limited are working as issue managers of the company.