BD Thai Food to change its IPO fund utilisation plan

BD Thai Food and Beverage Limited — a newly listed firm on the stock exchanges — decided to change the utilisation plan of its initial public offering (IPO) fund.

According to the company's prospectus, it initially allotted Tk2.85 crore for a tunnel oven. But now, it will use the amount for rotary oven and packing machines, mould parts, and other different machinery. 

In a disclosure on Sunday at the Dhaka Stock Exchange (DSE) website, the company stated that to finalise its new IPO utilisation plan, it has fixed an extraordinary general meeting (EGM) on 9 May through a digital platform. 

Also, it mentioned the new allocation of the Tk2.85 crore in the disclosure. It said it has allotted Tk84.57 lakh for importing a rotary oven and packing machine from China, Tk18.58 lakh for importing another rotary oven from India, Tk60.37 lakh for importing three sets of mould parts from China. 

The remaining Tk1.21 crore will be used to acquire different types of machinery like 250 KVA diesel generator, 500 kg boiler, and for construction works. 

BD Thai Food — the manufacturer of different kinds of fruit juices, carbonated beverages, drinking water, hard candies, soft candies, lollipops, and gums — raised Tk15 crore through an initial public offering (IPO).

In October last year, the Bangladesh Securities and Exchange Commission approved its IPO to raise the fund for acquiring machinery and equipment, building and civil works, and land development.