Home ›› 17 May 2023 ›› Stock
Through an electronic subscription system, shares of Al-Madina Pharmaceuticals Limited have been allotted among general investors on the basis of pro-rata system.
The shares allotment took place during an event held at the headquarters of the Dhaka Stock Exchange (DSE) in the capital Tuesday, said a media statement issued by the DSE.
High officials of the DSE, Al-Madina Pharmaceuticals, and other organisations concerned, were present at the event.
The pharma company witnessed 49.96 times higher applications from eligible investors against the issuance of its shares worth Tk 5 crore.
The face value of the company’s each share is Tk 10.
A total 400 shares were allotted to each of investors against their investments of Tk 2 lakh each, as per the press statement.
The electronic share subscription of the company held from May 7 to May 11 this year under the qualified investor offer (QIO).
Earlier in February this year, the securities regulator Bangladesh Securities and Exchange Commission (BSEC) allowed Al-Madina Pharma to raise Tk 5 crore from the SME platform of the DSE through a QIO.
The company will use the fund to expand its business and repay loans.
The company will not be allowed to offer any stock dividend in the next three years from its stock market listing.
Incorporated in 2006, Al-Madina Pharma produces more than 150 veterinary drugs, and imports more than 70 human drugs.
