MK Footwear allowed to raise Tk10cr from SME board
The Bangladesh Securities and Exchange Commission (BSEC) has allowed MK Footwear PLC to raise Tk10 crore from the small and medium enterprises (SME) platform of the Dhaka Stock Exchange (DSE) through a qualified investor offer (QIO).
The company will issue 1 crore shares at a face value of Tk10 each, and use the fund to purchase machinery.
Alpha Capital Management Limited is the issue manager and underwriter of the company's QIO.
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MK Footwear PLC was incorporated in November 2015. It produces and exports all types of leather and synthetic footwear.
The company will not be able to declare any stock dividend for three years from its stock market listing.
In the fiscal 2021-22, the company's revenue stood at Tk126.88 crore which was Tk43.55 crore in the same period of the previous year, and net profit Tk10.31 crore, which was Tk1.08 crore in FY21.
The company's earnings per share stood at Tk3.90, and the net asset value per share at Tk12.95 without revaluation.
Its retained earnings stood at Tk11.16 crore, and total loan at Tk125 crore.
Noor Mohammed is MK Footwear's managing director. He is also the chairman of Moynakuti Agro Industries Limited.
