Web Coats' subscription begins 13 Feb
The Web Coats PLC will start qualified investor offer (QIO) on 13 February and continue until 19 May 2024 under fixed-price method.
Only qualified investors, who have Tk30 lakh investment in the secondary market on 5 February 2024, will be able to take part in the subscription process.
The Bangladesh Securities and Exchange Commission (BSEC) had in December last year allowed Web Coats to raise Tk5 crore from the stock market issuing 50 lakh shares and it will be listed on the small capital platforms of local stock exchanges.
Keep updated, follow The Business Standard's Google news channel
According to BSEC, Web Coats will utilise Tk2.22 crore of the raised fund for machineries, Tk1.08 crore as working capital, 1.43 crore for loan repayment, and the rest for QIO expenses.
In 2022-23, its revenue was Tk50 crore, and its earnings per share (EPS) was Tk1.50.
The net asset value per share with revaluation is Tk15.92, and net asset value per share without revaluation is Tk13.
After listing on the SME board, the company will not issue bonus shares for three years.
Web Coats is 100% export-oriented paper processing unit and the principal activities of the company are to carry on the business of manufacturing and exporting of all kinds of paper and board etc by producing, processing and converting in its own plant.
At present, it manufactures more than 10 paper-based product such as self-adhesive, paper bent, tissue paper, neck board, size board, hang tag, size tag etc.
The company was incorporated in 2013, and started commercial production since 2014.
