Trading of BD Thai Food starts on Monday

Shares of BD Thai Food & Beverage, which has completed the initial public offering (IPO) process, will start trading on Monday.

According to the Dhaka Stock Exchange (DSE), the trading code of the ‘N’ category BD Thai food is: “BDTHAIFOOD” and the company code is: 14297.

Earlier, the Bangladesh Securities and Exchange Commission (BSEC) approved the company’s IPO on October 3.

However, the BSEC stipulated that entrepreneurs/directors cannot take dividends until the company’s EPS is Tk 1.

BD Thai Food has raised Tk 15 crore through the issuance of 1.5 crore ordinary shares in the stock market. In this case, the price of each share has been fixed at Tk 10.

Some 15 percent of these shares have been issued to employees, which will be locked-in for 2 years.

The company will spend on purchasing machinery and equipment, building construction, land development and IPO costs with this raised money.

According to the audited financial statements of the company for the financial year ended on June 30, 2020, the net asset value without revaluation was Tk 12.82 and with revaluation it was Tk 14.23.

The weighted average earnings per share (EPS) for the last 5 years have been Tk 0.63.

The current paid-up capital of the company is Tk 66.5 crore. The shareholders of this capital will not be able to buy or sell shares of the company for 3 years from the start of the transaction.

BLI Capital and Unicap Investment Limited are in-charge of issue management of the company in the IPO.