Dhaka Stock Exchange (DSE) has approved listing of Bashundhara Paper Mills Ltd (BPML) to facilitate trading of its shares.
The board of directors of the country’s premier bourse recently gave the listing approval and the date for debut of the company’s share trading will be fixed soon.
The lottery for allotting ordinary shares under the initial public offering (IPO) of the company was held at International Convention City Bashundhara (ICCB) on May 30.
Of the total 26,041,666 shares, 10,416,666 were allotted among general investors, affected retail investors and non-resident Bangladeshi investors through the IPO lottery at 10 per cent discount on the cut-off price, which is Tk 72 each.
The IPO subscription to BPML remained open to resident and non-resident Bangladeshis from April 30 to May 09. Total applications by general investors were nine times the shares earmarked for the investors.
Earlier, 15,625,000 shares were allotted among 474 eligible investors (EI) under book building method at the cut off price of Tk 80 per share.
Bashundhara Paper Mills has raised capital worth of Tk 2 billion. Of the amount, Tk 1.25 billion has been raised by issuing shares to the eligible investors and Tk 750 million by issuing shares to general investors at 10 percent discount on the cut-off price.