Al-Madina Pharma QIO subscription opens 7 May
The electronic subscription of Al-Madina Pharmaceuticals Limited under the qualified investor offer (QIO) will start on 7 May and continue till 11 May 2023.
Individual investors will submit applications that will maintain a minimum investment of Tk20 lakh in the secondary market at a close price in matured listed securities as on 25 April 2023.
Earlier in February this year, the Bangladesh Securities and Exchange Commission (BSEC) allowed Al-Madina Pharmaceuticals to raise Tk5 crore from the SME platform of the stock market through a QIO.
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The company will issue 50 lakh shares at face value of Tk10 each, and use the fund to expand its business and repay loans. Prime Bank Investment is the issue manager of the company's QIO.
Al-Madina Pharma will not be able to declare any stock dividend for three years from its stock market listing.
The company, incorporated in 2006, manufactures more than 150 veterinary drugs and imports more than 70 human drugs. Its factory is situated in Tongi, Gazipur.
In fiscal 2021-22, the company's earnings per share stood at Tk1.3, and net asset value per share at Tk21.65 with revaluation, and at Tk12.63 without.
According to its prospectus, the company's revenue was Tk32.67 crore from July to December of 2021, which was Tk20.93 crore in the same six months of the previous year.
It made a profit of Tk1.85 crore, which was Tk0.76 crore a year ago.
