BSEC has approved Mamun Agro for small cap, Dhaka: Mamun Agro Products Limited has received approval for the SME sector in the capital market. The approval was given at the 696th commission meeting of the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market.

According to BSEC sources, the company will raise Rs 10 crore through QIO by issuing 1 crore shares at the rate of Rs 10 each. The money raised will be spent on building and civil construction, working capital and issue management.

According to the company’s 9-month financial report for March 31, 2021, the earnings per share (EPS) stood at Tk 0.98 and the net asset value (NAVPS) without revaluation reserves stood at Tk 15.25. The issuing company will not be able to issue any bonus shares for the next 3 years from the date of transaction on the SME platform. BMSL Investment Limited and Uttara Finance Capital Management Limited are in charge of issue management of the company respectively.

It was further decided at the meeting that all individual investors (resident and non-resident) who have an investment of Rs 1 crore or more in the market value of listed securities would be considered as qualified investors.

Note that this is not a public offer, but a Qualified Investor Offer (QIO) approved by the Commission for enrollment on the SME platform in Bangladesh.

Source: Share Barta 24 by

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