The subscription of qualified investor offer (QIO) by Krishibid Feed Limited will open on 10 October and run till 14 October.
The company got QIO consent from the Bangladesh Securities and Exchange Commission (BSEC) on Tuesday.
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 will be listed on the SME platforms of local stock exchanges and only eligible investors can buy these shares.
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.
Those who have invested Tk1 crore or more in listed securities at market price will be considered qualified investors, including resident and non-resident Bangladeshis.
The issue manager of the company is MTB Capital Limited.
The commission previously allowed Nialco Alloys, Master Feed Agrotec, Subra Systems Ltd, Oryza Agro Industries Limited, and Mostafa Metal Industries to be listed on the SME platform.
Till now, only three companies from the feed sector are traded on the stock exchanges. They are Aman Feed Mills, National Feed Mills, and Index-Agro.
There are many other players in the feed sector such as 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.