Oryza Agro Industries Ltd has received approval to raise Tk10 crore from the capital market through a qualified investor offer.
The approval came at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) on Wednesday.
The principal activities of the company are manufacturing and marketing fish feed & poultry feed.
The company will issue 1 crore general shares, each priced at Tk10. This will allow it to be listed on the SME platform.
Only eligible investors can buy the company's shares.
Oryza Agro Industries will use the money as working capital and for issue management.
According to the company's financial statements, its earnings per share was Tk1.02 till 31 December 2020 while the net asset value without revaluation reserve was Tk18.09.
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 qualified investors, including resident and non-resident Bangladeshis.
The company started commencement on 1 March 2015.
Imperial Capital Limited and City Bank Capital Resources Limited are working as issue managers of Oryza Agro Industries Ltd.