Staff Reporter: The BSEC has approved the IPO of Acme Pesticides and the proposal of Zero Coupon Bond of Thengamara Mahila Sabuj Sangha (TMSS). The approval was given at the 75th commission meeting of BSEC on Monday.
Acme Pesticides will raise Tk 30 crore through issue of 3 crore shares at a face value of Tk 10. With the money raised, the company will spend on construction of factory buildings, installation of electrical equipment, purchase of new machinery and equipment, repayment of bank loans and IPO costs.
According to the company’s audited financial statement dated September 30, 2020, the NAVPS stands at Tk 18.64. At that time, the company’s EPS in the first quarter was 47 paise. Acme Pesticides will not be able to pay bonus dividends for the next four years after the start of trading on the stock exchange. The issue manager of the company is Shahjalal Equity Management.
On the other hand, the discount value of TMSS Non-Convertible Unsecured Women Empowerment Zero Coupon Bond is Tk 183.45 crore and the total face value is Tk 200.10 crore. The discount rate on the bond is 7.50 per cent, which will be issued through private placements in favor of corporate and financial institutions and other eligible investors.
It is to be noted that by raising money from various institutions and eligible investors through this bond issue, TMSS will distribute loans among women in rural areas through their ‘Jagaran’ and ‘Agrasar’ loan schemes. As a result, women’s empowerment will increase. The bond has a face value of Rs 10 lakh per unit and a face value of Rs 30 lakh per lot.
MTB Capital Limited is the trustee of the bond and Eastern Bank Limited is the arranger.
Source: Daily StockBangladesh by www.dailystockbangladesh.com.
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