Dominage Steel gets huge IPO response
IPO subscription of the company remained open from 19 October to 25 October this year
Dominage Steel Building Systems Limited has received an overwhelming response from investors on its way to the bourses.
The investors have applied to buy around 20 times the number of primary shares being offered by the company in its Initial Public Offering (IPO), according to company officials.
IPO subscription for Dominage Steel remained open from 19 October until 25 October this year.
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In August this year, the Bangladesh Securities and Exchange Commission (BSEC) approved Dominage Steel's IPO proposal to raise Tk30 crore by issuing three crore shares.
Each share of the company has a face value of Tk10.
The company will spend the funds on constructing a building, purchasing electrical equipment and new machinery, meeting IPO costs, among others.
According to the audited financial report for the year ending on 30 June 2019, the earnings per share of the company was Tk1.49, and its net asset value per share was Tk19.81.
In the last five years, the weighted average earnings per share of the company stood at Tk1.47.
Shahjalal Equity Management Ltd is working as the issue manager of the company for its IPO process.
Dominage Steel is engaged in the business of steel building and/or prefabricated steel structures.
