Krishibid Seed opens QIO subscription on March 20

Krishibid Seed Limited, a small and medium enterprise, is all set to open its qualified investor offer (QIO) for subscription from March 20.

The five-day subscription process will continue until March 24, said the company in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

On January 31, Krishibid Seed got QIO approval from Bangladesh Securities and Exchange Commission (BSEC) to raise Tk 11.60 crore.

Institutional investors as wells as individual investors with an investment of Tk 20 lakh in the market will be considered as qualified investors.

The institutional investors included merchant bankers, asset management companies, mutual funds, stock dealers, banks, financial institutions, insurance companies, alternative investment funds, and market makers.

Krishibid Seed will utilise the QIO proceeds for setting up cold storage, storage building, see research and development center, and meeting the QIO expenses.

Krishibid Seed was incorporated in 2016. Its principal business is to produce and import different kinds of quality seeds.

Its net asset value per share (without revaluation reserve) stood at Tk 12.60 and earnings per share at Tk 0.60 as of September 30, 2021.