Navana Pharma makes stock trading debut today

Navana Pharmaceuticals Limited is set to make its share trading debut on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today.

The company’s trading code is ‘NAVANAPHAR’ while the DSE Company Code is 18497, said a filing posted on the DSE website on Monday.

With IPO, the company raised a fund of Tk 75 crore from the capital market under the book-building method.

Earlier on June 8 this year, the company received regulatory approval to go public.

The company is slated to spend the IPO fund for the construction of new general production buildings, construction of new utility and engineering buildings, cephalosporin unit reform, and partial debt repayment and meet the IPO costs.

According to the company’s audited financial statements for July 2021 to March 2022, its net asset value (NAV) per share with revaluation stood at Tk 43.53, while NAV without revaluation stood at Tk 19.02.

Asian Tiger Capital Partners Investment and EBL investments jointly acted as the issue manager for the company’s IPO process.