Krishibid feed debuts on DSE tomorrow
Stocks
Highlights:
- The company will raise Tk22cr
- It oversubscribed by 25.42 times
- Tk1.67 till 31 December 2020
- Tk18.47 NAV without revaluation
Krishibid Feed Limited is slated to make its debut on the SME platform of the Dhaka stock exchange on Wednesday.
On 28 October, the company credited its primary shares to investors' BO account.
The company completed its subscription during 10-14 October and oversubscribed by 25.42 times.
As many as 513 qualified investors applied for the company's shares to the tune of Tk559.37 crore.
Earlier, the company received approval from the BSEC to raise Tk22 crore from the capital market through a QIO.
The feed maker will issue 2.20 crore general shares at Tk10 each.
The company is primarily engaged in manufacturing, sales, and distribution of all sorts of feed for poultry, fish, and cattle.
Krishibid Feed will use the QIO proceeds to construct factory buildings, buy a plant and machinery, repay bank loans, and buy diesel generators and delivery vans.
According to the company's financial statements, its earnings per share (EPS) was Tk1.67 till 31 December 2020. The net asset value without revaluation reserve was Tk18.47.
The company cannot issue bonus shares for three years after its listing on the SME platform.
The issue manager of the company is MTB Capital Limited.
Other major players in the feed sector include Quality Feed, Paragon Feed, Nourish Poultry and Hatchery, Provita, New Hope Feed Mill (bd), Kazi Feed, ACI-Godrej Agrovet (Pvt), and Aftab Feed. But they are not listed on the capital market.
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