Master Feed QIO subscription opens Sunday

Master Feed will issue one crore general shares, each priced at Tk10, which will allow it to be listed on the SME platform.

The subscription of qualified investor offer (QIO) by Master Feed Agrotec Ltd will open on Sunday and run till 16 September.

Earlier, the company received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk10 crore from the capital market through a QIO.

The company is mainly involved in manufacturing and marketing poultry, fish, and cattle feeds. It is also engaged in poultry and fish farming. 

Master Feed will issue one crore general shares, each priced at Tk10, which will allow it to be listed on the SME platform.

Only eligible investors can buy the shares of the company.

Master Feed Agrotec has planned to spend the money as working capital, for issue management and to repay loans.

According to the company's financial statements, its earnings per share was Tk0.68 till 31 December 2020 while the net asset value without revaluation reserve was Tk14.08.

The company cannot issue bonus shares for three years after it is listed on the SME platform, says a BSEC press release.

Those who have invested Tk1 crore or more in listed securities at market price will be considered as qualified investors, including resident and non-resident Bangladeshis.

The company was incorporated in 2011 as "Master Hatchery and Poultry Feed Limited". Later in 2018, it was renamed "Master Feed Agrotec Limited".

Asian Tiger Capital Partners Investments Ltd and NBL Capital & Equity Management Ltd are working as issue managers of Master Feed Agrotec Limited.