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The BD Thai Food and Beverage Limited will open initial public offering (IPO) subscriptions for Tk 15 crore public issues on December 23 under the fixed price method.
The investors will subscribe for the IPO shares through the electronic subscription system until December 29. The company will offload 1.5 crore ordinary shares with a face value of Tk 10 each.
Other than meeting the IPO expenses, the proceeds will be used in acquiring machinery and equipment, construction, civil work and land development.
The Bangladesh Securities and Exchange Commission (BSEC) extended its consent for the IPO issuance on November 18.
The company processes different sorts of fruit juices, carbonated beverages, drinking water, hard candies, soft candies, lollipops, and gums.
The company markets its products under the brand name “Nectar”, and distributes the products through 260 dealers.
Unicap Investments Limited and BLI Capital Limited are the issue managers for the company.
Its weighted average earnings per share stood at Tk 0.63. At the end of June 30, 2020, its net asset value without revaluation was Tk 12.82 and Tk 14.23 with revaluation.
Sponsors and directors will not be able to receive any dividends until the EPS reaches Tk1. Besides, the company cannot declare any dividends for its shareholders before listing.
