Associated Oxygen Limited has announced the dates for the subscription of its initial public offering (IPO). Investors can submit their applications to buy the shares of the company between September 10-16.
The company received the letter of consent from the Bangladesh Securities and Exchange Commission on Thursday.
Earlier, the regulator had approved the proposal of the IPO to raise Tk15 crore by issuing 1.5 crore shares, with a face value of Tk10.
The company will spend the fund to build a warehouse, shed, buy new machinery, and repay bank loans and to meet up IPO costs and others.
According to the audited financial report for the year ended on June 30, 2019, the weighted average earnings per share of the company in the last five years stood at Tk1.51. And, its net asset value per share was at Tk17.37 without revaluation.
Its paid-up capital is Tk60 crore. BD Finance Capital Holdings Ltd is working as the issue manager of the company for its IPO process.
Associated Oxygen Limited has been producing and supplying industrial gases, both in liquid and gaseous forms, for over the last three decades.
The company currently has a capacity of 8.27 lakh cubic metre per month of oxygen/nitrogen gases and 99.29 lakh cubic metre per annum capacity of dissolved acetylene gas.
Its manufacturing factory is located in Sitakunda of Chattogram.