Associated Oxygen IPO subscription begins Thursday
The IPO subscription will run until September 16
The initial public offering (IPO) subscription of Associated Oxygen Limited will begin on Thursday. It will run until September 16.
The investors can submit their applications to buy the shares of the company during this period.
Earlier, the regulator approved the proposal of the IPO to raise Tk15 crore by issuing 1.5 crore shares, with a face value of Tk10.
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The company will spend the funds to: build a warehouse and shed, buy new machinery, repay bank loans, and meet the IPO costs, etc.
According to the audited financial report for the year ended on June 30, 2019, the weighted average earnings per share of the company in the last five years stood at Tk1.51. And, its net asset value per share was at Tk17.37 without revaluation.
The paid-up capital for the company is Tk60 crore. BD Finance Capital Holdings Ltd is working as the issue manager of the company for its IPO process.
Associated Oxygen Limited has been producing and supplying industrial gases, both in liquid and gaseous forms, for over the last three decades.
The company currently has the capacity to produce 8.27 lakh cubic metre per month of oxygen/nitrogen gases and 99.29 lakh cubic metre per annum capacity of dissolved acetylene gas.
Its manufacturing factory is located in Sitakunda of Chattogram.
