The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of Dominage Steel Building Systems Limited for an Initial Public Offering (IPO) to raise Tk30 crore by issuing three crore shares.
The BSEC approved the proposal at a meeting on Wednesday and released a statement saying this.
Each share of the company will have a face value of Tk10.
The company will spend the funds on: the construction of a building, purchasing electrical equipment and new machinery, meeting IPO costs, and more.
According to the audited financial report for the year ended on June 30, 2019, earnings per share of the company was Tk1.49, and its net asset value per share was Tk19.81.
The weighted average earnings per share of the company, in the last five years, stood at Tk1.47.
Shahjalal Equity Management Ltd is working as issue manager of the company for its IPO process.
Dominage Steel is engaged in the steel building structure, or prefabricated steel structure, business.