Dominage Steel’s IPO subscription to begin 19 Oct
The company will spend the funds on constructing a building as well as buying electrical equipment and machinery
The initial public offering (IPO) subscription of Dominage Steel Building Systems Limited will begin 19 October and continue until 25 October.
Investors may apply to buy the shares of the company during this time.
Dominage Steel is engaged in the steel building structures or prefabricated steel structure business.
Keep updated, follow The Business Standard's Google news channel
In August this year, the Bangladesh Securities and Exchange Commission approved Dominage's IPO proposal to raise Tk30 crore by issuing three crore shares.
The company will spend the funds on constructing a building as well as buying electrical equipment and new machinery.
Each of Dominage's shares will have a face value of Tk10.
According to the audited financial statement for the year ended on 30 June 2019, the earnings per share (EPS) of the company were Tk1.49 and net asset value per share was Tk19.81.
The weighted average EPS of the company in the last five years stood at Tk1.47.
Shahjalal Equity Management Limited is Dominage's issue manager.
Steel structure buildings are in high demand in Bangladesh's construction sector as they need little investment and time yet provide great safety.
The high resale value of steel structures also drives their popularity.
Local steel building makers are expecting a bright future for steel structure buildings as an increasing number of conglomerates, including foreign companies, are setting up such structures for industrial use.
Owners of such structures can get four times their value if they sell the structures as scrap, even after 50 years, which is not possible in the case of conventional buildings.
