QIO subscriptions of BD Paints to start Sunday

Subscription applications for the Qualified Investor Offer (QIO) of BD Paints Limited, which has been approved to raise funds in the SME sector, will start on Sunday and continue till May 26.

Earlier, on April 12, the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the stock market, approved BD Paints Limited’s Qualified Investor Offer (QIO) in the SME sector.

The company will raise Tk 12 crore through the issuance of 1.20 crore shares at a price of Tk 10 each through QIO.

The money raised will be spent on construction, procurement and installation of machinery and equipment, working capital and issue management costs.

The company’s earnings per share (EPS) stand at Tk 0.97 and net asset value per share (NAVPS) at Tk 15.94 as per the financial report of the financial year ended July '20-June ’21.

The company will not be able to issue any bonus shares for the next three years from the date of transaction on the SME platform.

Prime Bank Investment Limited and CAPM Advisory Limited are in charge of issue management of the company.