BSEC allows BD Paints to raise Tk12cr
The company, established in 2014, will issue 1.2 crore ordinary shares at the face value of Tk10 each
The Bangladesh Securities and Exchange Commission (BSEC) has allowed BD Paints Limited to raise Tk12 crore by issuing shares through a qualified investor offer (QIO) from the SME board of the stock exchanges.
The stock market regulator approved the QIO of the company at a meeting on Tuesday, said a press release.
The company, established in 2014, will issue 1.2 crore ordinary shares at the face value of Tk10 each.
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Of the amount, BD Paints will spend Tk1.7 crore on building construction, Tk5.5 crore on machinery installation, and Tk4.54 crore on working capital.
According to the company's audited financial statements as of 30 June 2021, its net profit stood at Tk4.83 crore, which was Tk3.13 crore in the previous year.
The paint manufacturer also saw an increase in revenue to Tk29.38 crore in the fiscal, from Tk23.36 crore a year earlier.
Its earning per share stood at Tk0.97 and net asset value per share Tk15.94 at the end of the fiscal.
CAPM Advisory Limited and Prime Bank Investment Limited are working as the issue managers for the company.
The company will not be able to issue bonus shares within three years of its debut on the SME platform.
