- Beverages are its main products
- "Necter" is the brand name of the company
- IPO proceeds will be used for business expansion
- 15% of IPO shares will be allotted for employees
- Paid-up capital is Tk66.5cr
- Weighted average earnings per share is Tk0.63
The Bangladesh Securities and Exchange Commission (BSEC) on Sunday approved BD Thai Food and Beverage Ltd to raise Tk15 crore with an initial public offering (IPO) of Tk15 crore using the fixed price method.
The company is processes different kinds of fruit juices, carbonated beverages, drinking water, hard candies, soft candies, lollipops, and gums.
The company markets its products under the brand name "Necter", distributing its products through 260 dealers.
The company will issue 1.5 crore general shares at a face value of Tk10 each, according to a BSEC press statement.
The beverage producer will use the funds for machinery and equipment, building construction and civil work, land and land development, and bank loan repayments.
BSEC said the pre-IPO sponsors, directors, and investors in the company will not be able to sell any shares for the next three years after the first trading day.
Unicap Investments Limited and BLI Capital Limited are the issue managers of the company.
The weighted average earnings per share of the company was Tk0.63.
At the end of 30 June 2020, the net asset value (NAV) without revaluation was Tk12.82 and Tk14.23 with revaluation.
Sponsors and directors will not be able to receive any dividends until the EPS reaches Tk1.
Nor can the company declare any dividends for its shareholders before listing.
It can allot 15% shares for employees with a lock-in period of two years.
The company is entering the market with different product lines. Each product line will be facing different competitors.