Mostafa Metal’s QIO subscription from 26 Sep
Share subscriptions of Mostafa Metal Industries Ltd for a qualified investor offer (QIO) will begin on 26 September and continue until 30 September, according to a Dhaka Stock Exchange (DSE) circular on Monday.
The company will raise Tk11 crore, issuing 1.10 crore shares at a face value of Tk10 each for loan payment, working capital, and meeting initial public offering expenses.
With the QIO, Mostafa Metal will be listed on the small and medium enterprise board of the DSE.
The company was approved for the QIO by the Bangladesh Securities and Exchange Commission (BSEC) on 30 June this year.
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The company manufactures PVC, wood-plastic composite doors, and other PVC products for the domestic market.
According to the DSE notification, individual investors investing a minimum of Tk1 crore in the market will be deemed qualified investors.
Investors will have to pay the full subscription amount through banking channels.
As per the company prospectus, its revenue stood at Tk21.66 crore as of 31 December last year, while net profit was Tk2.89 crore.
The earnings per share (EPS) stood at Tk0.76 as of 31 December last year. The EPS was Tk0.77 on 30 June last year with revenue of Tk27 crore and a profit of Tk2.90 crore.
NBL Capital and Equity Management, and Swadesh Investment Management, are the issue managers for the company.
