Mostafa Metal’s QIO subscription begins
BI Report || BusinessInsider
Mostafa Metal Industries logo.
The subscription for Mostafa Metal Industries' qualified investor offer (QIO) kicks off on Sunday.
The company's QIO will continue until September 30, according to Dhaka Stock Exchange (DSE) sources.
Earlier on June 30, the Bangladesh Securities and Exchange Commission (BSEC) approved Mostafa Metal Industries’ QIO to raise Tk 11 crore by offloading 1.1 crore shares at Tk 10 each.
The money raised by the company will be spent on bank loan repayments, working capital increase and issue management.
NBL Capital and Equity Management and Swadesh Investment Management are the issue managers of the company.
According to the BSEC, individual investors (resident and non-resident) who have invested Tk 1 crore or more in the listed securities at market value will be considered as qualified investors.
According to the company's financial report for the year ended December 30, 2020, the earnings per share (EPS) of the company stood at Tk 0.76 and the net asset value (NAVPS) without revaluation reserves stood at Tk 10.90.