Dhaka, Bangladesh (BBN)– Olympic Accessories Limited (OAL) will make trading debut on Thursday at the Bangladesh’s stock exchanges under ‘N’ category, officials said.
DSE trading code for Olympic Accessories Ltd is ‘OAL’ and DSE company code is 13239 while CSE scrip Id is 16033 and CSE scrip code is ‘OAL’.
Olympic Accessories, which received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) in February, floated 20 million ordinary shares of BDT 10 each and raised BDT 200 million from the public under fixed price method.
IPO subscription of the company was took place between April 19 and April 23 for resident Bangladeshis and it was continued till May 2 for non-resident Bangladeshis (NRBs).
The company’s IPO subscription was oversubscribed by 50 times against its public offer and the IPO lottery was held on May 20.
The IPO funds raised through initial public offerings is begin used for construction of a new factory building, purchasing machinery and meeting up IPO expenses, according to company’s IPO prospectus.
The company has reported net profit after tax for the period of July’14 to March 15 (nine months) is BDT 123.46 million, pre-IPO earning per share (EPS) is BDT 1.27 and post-IPO EPS is BDT 1.06.
PLFS Investments Ltd and CAPM Advisory Ltd are the IPO’s issue managers.
The company is engaged in manufacturing, processing, printing, cutting, sealing and assembling all kinds of carton, poly bag, hanger, elastic, draw cord, back board, neck board, ribbon, gum tape, label, twill tape, interlining, bar code and hangtag, according to the company’s website.
BBN/SSR/BB
