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Each general investor will get a minimum 51 initial public offering (IPO) shares of the JMI Hospital Requisite Manufacturing Limited while non-resident Bangladeshi investors will receive 58 shares against the application of Tk 10,000.
The Dhaka Stock Exchange (DSE) on Sunday formally allocated the IPO shares of JMI, under the newly introduced pro-rata basis which allows every applicant to get shares, the company said in a statement.
JMI Hospital Requisite Manufacturing received 8.65 times more applications on sale for general investors as part of its IPO to raise Tk75 crore under the book-building method.
Its cut-off price per share is fixed at Tk 25 through electronic bidding. Individual investors will be able to purchase the remaining shares at Tk 20 per share.
The medical instrument and hospital equipment manufacturer received the regulator’s consent on November 25 for raising Tk 75 crore from the capital market through IPO shares.
According to the IPO proposal, the company will spend the fund on purchasing machinery and land and use it for loan repayment.
JMI Hospital Requisite Manufacturing Ltd has a trading and distribution business of medical instruments. Its factory is situated at Gazaria in Munshiganj.
