Mamun Agro to debut in share market Tuesday
Only institutional investors can buy the shares of the company
Mamun Agro Products – a small-cap company in the country's agriculture sector – is all set to make its debut on the SME platform of the Dhaka Stock Exchange on Tuesday.
The company – engaged in agricultural products, fresh fruits and vegetables, agricultural supplies and seeds in Bangladesh – credited its primary shares to investors' beneficiary owners (BO) account on 13 February.
The Dhaka-based company completed its subscription during 23-27 January.
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On 28 October 2021, it had received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk10 crore from the capital market through a qualified investor offer (QIO).
The company will issue one crore general shares, priced at Tk10 each, and thus join the SME platform of the country's premier bourse.
Incorporated in 2003, the principal activities of Mamun Agro Products are manufacturing and marketing agricultural products.
Only institutional investors can buy the shares of the company.
Mamun Agro will use the money to construct a building and as working capital.
In fiscal 2020-21, the company's net profit was Tk5.24 crore compared to Tk5.16 crore in the previous fiscal year.
Its earnings per share stood at Tk1.31 and its net asset value without revaluation was Tk15.58.
The company will not be allowed to issue bonus shares for three years after its listing on the SME platform.
BMSL Investment Ltd and Uttara Finance Capital Management Limited are working as issue managers of the company.
