Associated Oxygen’s IPO lottery on Wednesday
The company's IPO subscription was held between 10 September and 16 September and its IPO oversubscribed by 31 times
Associated Oxygen Limited will hold an initial public offering (IPO) lottery draw online on 7 October 2020.
According to sources, the company's IPO subscription was held between 10 September and 16 September under the fixed price method and its IPO oversubscribed by 31 times.
Earlier, the regulator approved the IPO proposal of the company 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 machineries, repay bank loans, and meet IPO costs and others.
According to the audited financial report for the year ended on 30 June 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 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 three decades.
The company currently has the capacity to produce 8.27 lakh cubic metres of oxygen/nitrogen gases per month and 99.29 lakh cubic metres of dissolved acetylene gas per annum.
Its manufacturing factory is located in Sitakunda of Chattogram.
