IPO subscriptions of Acme Pesticides start on Oct 12

Acme Pesticides Limited’s initial public offering (IPO) will start accepting applications from October 12 and will continue till October 18.

The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has approved the initial public offering (IPO) of Acme Pesticides to raise money from the stock market on July 19.

Acme Pesticides will raise Tk 30 crore through issuing of 3 crore shares at a face value of Tk 10.

With the money raised, the company will spend on construction of factory buildings, installation of electrical equipment, purchase of new machinery and equipment, repayment of bank loans and IPO costs.

The company’s net asset value per share (NAVPS) stood at Tk 16.84 as per its audited financial statements dated September 30, 2020.

The company’s earnings per share (EPS) for the first quarter was Tk 0.48.

The BSEC has instructed that Acme Pesticides will not be able to issue bonus shares for the next 4 years after the commencement of trading in the stock market.

Shahjalal Equity Management is in-charge of the company’s issue management in the IPO.