Walton shares’ cut-off price set at Tk315
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Sunday
June 26, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
SUNDAY, JUNE 26, 2022
Walton shares’ cut-off price set at Tk315

Stocks

TBS Report
09 March, 2020, 10:25 pm
Last modified: 09 March, 2020, 10:30 pm

Related News

  • Bruised stocks find support as growth fears dent commodities
  • Feni tea seller becomes millionaire after buying Walton fridge
  • YPF launches new coalition to upgrade Bangladeshi economy
  • City Bank perpetual bond makes stock exchange debut
  • Stocks in biggest weekly loss since 2020 on interest-rate worries

Walton shares’ cut-off price set at Tk315

A gap of Tk450 between the highest bid and the cut-off price indicates that bidders had poorly analysed the market

TBS Report
09 March, 2020, 10:25 pm
Last modified: 09 March, 2020, 10:30 pm
File photo of Walton Hi-Tech Industries Ltd. Picture: Collected
File photo of Walton Hi-Tech Industries Ltd. Picture: Collected

The cut-off price of Walton Hi-Tech Industries' shares has been determined at Tk315 through electronic bidding.

Qualified and institutional investors will buy 50 percent of the company's shares – worth nearly Tk61 crore – at the cut-off price.

Meanwhile, individual investors will be able to purchase the rest of the shares worth more than Tk39 crore at Tk283 per share, after a 10 percent discount on the cut-off price.

The electronic bidding, under the book building method of the Initial Public Offering (IPO), took place for 72 hours – from 5pm on March 2 to 5pm on March 5.

During this period, 233 institutional and eligible investors offered different prices to buy the company's shares. Among them, most bid at Tk210 and Tk150.

The highest bidding price was Tk765 and the lowest was Tk12. The cumulative value of the total bidding was over Tk186 crore.

However, there was a large gap between the highest bid and the cut-off price.

Obaidur Rahman, managing director of AAA Finance and Investment – the issue manager of Walton's shares, told The Business Standard that they observed a gap of Tk450 between the highest and the cut-off prices.

"This denotes that the bidders had poorly analysed the market and thus had insufficient knowledge in this respect," he said.

The gap would have been lower had they done proper analysis before the bidding, he added. 

Earlier, the Bangladesh Securities and Exchange Commission allowed Walton to explore the cut-off price of its shares through electronic bidding. The company set a target to raise Tk100 crore through an IPO.

Walton Hi-Tech will use the proceeds to expand its businesses, repay bank loans and meet IPO costs.

Walton has paid-up capital of Tk300 crore. In the 2018-19 accounting year, the company's total revenue stood at Tk5,177 crore and net profit at Tk1,376 crore.

In the last financial year, the company's earnings per share was Tk45.87.

Additionally, the company's net asset value, per share with revaluation, was Tk243.16 – without revaluation it was Tk138.53 during the last financial year.

Walton Hi-Tech, founded in 1977, began manufacturing refrigerators, freezers, air-conditioners and compressors in early 2008.

The company then branched out into television as well as home and electrical appliances.

It now has a workforce of more than 20,000 people in 22 production bases on 764 acres of factory area.

The company's yearly production capacity is 10 million units – based on market demand.  

Economy / Top News

Walton / shares / Stock

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: PMO Press Wing
    PM salutes people, opens Padma Bridge
  • Photo: PMO Press Wing
    Her moment of glory, our moment of pride
  • PM Hasina invites US President Joe Biden to visit Bangladesh
    PM Hasina invites US President Joe Biden to visit Bangladesh

MOST VIEWED

  • Placement shareholders at risk as Beka Garments faces auction
    Placement shareholders at risk as Beka Garments faces auction
  • Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
    Fed policymakers embrace more rate hikes, markets a little less
  • A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2022. REUTERS/Brendan McDermid
    Stocks gain sharply for day and week, while copper falls further
  • A projection shows a 100 franc banknote in a window in Zurich, Switzerland December 16, 2021. REUTERS/Arnd Wiegmann/File Photo
    Swiss policy pivot signals exit for big stock and bond investor
  • Representational image. Picture: TBS
    Stocks end a bearish week
  • Malek Spinning to issue a Tk290cr bond
    Malek Spinning to issue a Tk290cr bond

Related News

  • Bruised stocks find support as growth fears dent commodities
  • Feni tea seller becomes millionaire after buying Walton fridge
  • YPF launches new coalition to upgrade Bangladeshi economy
  • City Bank perpetual bond makes stock exchange debut
  • Stocks in biggest weekly loss since 2020 on interest-rate worries

Features

Photo: TBS

A dream dreamt and then delivered

4h | Panorama
In pictures: 2022 Dhaka Motor Show

In pictures: 2022 Dhaka Motor Show

16h | Wheels
Our team full of hope and mettle, before we entered the disaster zone. PHOTO: SWAMIM AHMED

How we survived 4 days in Sunamganj flood

1d | Panorama
Photo: Bipul Sarker Sunny

Immigrants or refugees: Who really are the Maldoiyas?

1d | Features

More Videos from TBS

Building Padma Bridge a perfect reply to conspirators, says PM Sheikh Hasina

Building Padma Bridge a perfect reply to conspirators, says PM Sheikh Hasina

4h | Videos
Grand opening of Padma Bridge with colorful airshow and festival

Grand opening of Padma Bridge with colorful airshow and festival

5h | Videos
Man travelling barefoot for 47 years walks on Padma Bridge

Man travelling barefoot for 47 years walks on Padma Bridge

5h | Videos
Padma Bridge inauguration draws huge crowd

Padma Bridge inauguration draws huge crowd

9h | Videos

Most Read

1
Photo: Prime Minister's Office
Bangladesh

New investment in transports as Padma Bridge set to open

2
Japan cancels financing Matarbari coal project phase 2
Bangladesh

Japan cancels financing Matarbari coal project phase 2

3
Desco wanted to make a bold statement with their new head office building, a physical entity that would be a corporate icon. Photo: Courtesy
Habitat

Desco head office: When commitment to community and environment inspires architecture

4
Photo: TBS
Infrastructure

Gains from Padma Bridge to cross $10b, hope experts

5
20 businesses get nod for $326m foreign loan for expansion
Economy

20 businesses get nod for $326m foreign loan for expansion

6
Multiple robbery incidents reported in flood stranded Sylhet and Sunamganj
Bangladesh

Multiple robbery incidents reported in flood stranded Sylhet and Sunamganj

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
Cattle graze on the bank of the River Padma at Paschim Painpara near Jajira end of the Padma Bridge. Photo: Mumit M

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net