Krishibid Seed allowed to raise Tk11.60cr
Krishibid Seed will issue 1.16 crore general shares and thus join the SME platform of the Dhaka Stock Exchange (DSE)
Aiming to create a long-term financing source for the SME sector, the securities regulator has approved Krishibid Seed Limited – a sister concern of Krishibid Group – to raise Tk11.60 crore capital with a qualified investor offer (QIO).
The Bangladesh Securities and Exchange Commission (BSEC) on Monday also approved a draft prospectus of SAML Growth Fund, an open-ended mutual fund.
The primary target of the fund is Tk25 crore, in which the asset manager, Shahjalal Asset Management Limited (SAML), will provide Tk2.5 crore, and the rest will remain open for general investors.
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Unit face value of the fund is Tk10 lakh.
Krishibid Seed will issue 1.16 crore general shares and thus join the SME platform of the Dhaka Stock Exchange (DSE).
Incorporated in 2016, the principal activity and the nature of the business of the company is to produce and import different kinds of quality seeds, like vegetables, maize, rice, wheat, oil, pulse, grass and potato.
Krishibid Seed will use the money to construct a cold storage, a storage building and seeds research and development.
In the July-March period of the 2021-22 fiscal year, its earnings per share stood at Tk0.60 and the net asset value without revaluation at Tk12.60.
The company will not be allowed to issue bonus shares for three years after it is listed on the SME platform.
SBL Capital Management Limited is working as the issue manager of the company.
Krishibid Feed, another sister company of the Krishibid Group, had earlier got listed on the SME board of the premier bourse by raising Tk22 crore from the stock market.
