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The Bangladesh Securities and Exchange Commission (BSEC) has allowed Mamun Agro Products Ltd to raise Tk 10 crore via Qualified Investor Offer (QIO).
The fund will be spent to build new factory building and for issue management, said the regulator in a statement on Thursday.
The agricultural commodity supplier company will issue one crore general shares in total with a face value of Tk 10 each.
Through the QIO, it will begin share trading on the Dhaka Stock Exchange’s newly introduced SME board.
Only eligible investors will be allowed to buy the company’s shares.
An individual investor having an investment of a minimum Tk 1 crore in the listed securities will be considered a qualified investor.
The qualified investors include merchant bankers, asset management companies, banks, financial institutions, insurance companies, mutual funds, and alternative investment fund managers, resident or non-resident Bangladeshis.
BMSL Investment Limited and Uttara Finance Capital Management Limited will act as issue managers for Mamun Agro Products Ltd.
The company will not be allowed to issue bonus shares in three years from the date of share trading as per rules.
According to the company’s nine-month financial statement, its earnings per share were Tk 0.98 till March 31, while the net asset value without revaluation reserve was Tk 15.25.
The principal activities of the company are manufacturing and supplying agro products, including insecticide, pesticide and certified seeds.
According to its website, Mamun Agro Products Ltd was incorporated on January 11, 2003 as a private limited company.
