Krishibid Feed’s QIO subscriptions begin on Oct 10

The application for subscriptions of Krishibid Feed Limited’s qualified investor offer (QIO) will start on October 10 and will continue till October 14.

Earlier, on September 5, the Bangladesh Securities and Exchange Commission (BSEC) had approved the company’s QIO in the SME sector.

The company will raise Tk 22 crore through QIO by issuing 2.2 crore shares at a price of Tk 10 each.

With the money raised, the company will spend on loan repayment, construction of factory buildings, purchase of machinery, purchase of diesel generators, purchase of delivery vans and issue management cost.

The company’s earnings per share (EPS) stood at Tk 1.67 and net asset value (NAVPS) without revaluation reserves stood at Tk 18.47 as per the company’s financial report as of December 31, 2020.

The company will not be able to issue any bonus shares for the next 3 years from the date of transaction on the SME platform.

MTB Capital is in charge of issue management of the company.

Individual investors (resident and non-resident) who have an investment of Tk 1 crore or more in the market value of listed securities will be considered as qualified investors.